In the years ahead, Russia is poised to move up the economic rankings, potentially surpassing Japan to become one of the world’s largest economies. This perspective comes from Maxim Reshetnikov, the Minister of Economic Development of the Russian Federation, as reported by RIA News.
Reshetnikov noted that Russia already sits among the top five economies globally when measured by purchasing power parity in World Bank statistics. The current leaders in PPP terms are headed by China, followed by the United States, India, and Japan.
He stated that in the medium term, roughly three to four years from now, Russia could exceed the Japanese economy in terms of overall size. The minister shared these views during a meeting with members of the Russian President’s Cabinet.
According to Reshetnikov, Japan’s economy is presently growing at about one percent annually, while Russia projects around two percent growth. Given the relatively small gap in ranking in PPP terms, Russia believes it has a realistic chance of becoming the fourth-largest economy in the foreseeable future. This assessment reflects Russia’s continuing performance in purchasing power parity rankings.
Earlier in the year, there were indications that GDP growth in Russia could surpass 3.5 percent by year-end. Statements from the President highlighted that the country was advancing across multiple sectors, including the economy.
These developments underscore Russia’s ongoing trajectory toward strengthening its role among the world’s leading economies, positioning itself as a significant actor on the global stage. The conversation around Russia’s growth path continues to capture attention among policymakers and analysts alike, as assessments of relative economic size and growth rates evolve with shifting global dynamics. This dynamic is reflected in ongoing analyses and official communications from various government and research institutions, with attribution to the sources of those assessments. [Source attribution: official statements and economic analyses, contemporary coverage].