According to the Center for Economics and Business Research (CEBR), Russia would rise to fourth spot from its current position of ninth. With India and Brazil also forecast to climb the ratings, the BRIC economies will take four out of the six top positions in the list. The USA, China and Japan are expected to hold their respective first, second and third places.
Economy and Finance
CEBR: Russia to be One of the World’s Top Five Economies by 2020
Russia may well improve its standing in the list of the world’s most powerful economies in the next eight years, says the UK-based Center for Economics and Business Research.
According to the Center for Economics and Business Research (CEBR), Russia would rise to fourth spot from its current position of ninth. With India and Brazil also forecast to climb the ratings, the BRIC economies will take four out of the six top positions in the list. The USA, China and Japan are expected to hold their respective first, second and third places.
The agency says the eurozone crisis is going to be the major contributor to Russia’s ascent. The European Union’s economy is expected to contract by 0.6 per cent in 2012 at best, but by as much as to 2 per cent “if the euro problem is not solved.” The other factor is Russia’s economical slant to the export of natural resources.
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