According to the analytical unit of Nordea, Denmark's largest bank, Russia's GDP is estimated to grow 7.5 % in 2007 and keep it stable in 2008. The latest Economic Outlook, published by Nordea analysts this autumn, the current year is claimed to be among the most prosperous and promising in terms of GDP growth in Russia.
The outlook is bright and risks to our forecasts are mainly on the upside. 2007 is likely to be the strongest year of growth since 2000, and 2008 will probably not lag very much behind either.
The analysts point out to the outright investment boom which in their opinion reacts to the overall boom in the economy. Investment was boosted by the strong capital inflow in H1 2007. FDI reached its highest peak in H1 2007 with a little less than USD 25bn gross. Other distinctive trends in the Russian economy are the increase in capital flows and the ever growing purchasing power.
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