Russia to move into top 6 leading world economies by 2030

According to a paper by PricewaterhouseCoopers entitled, "Convergence, Catch up and Overtaking: How the balance of world economic power is shifting", the next decade will see the world’s largest emerging economies catch up with and even surpass the established leading economies in terms of GDP. PwC projections indicate that from 2020 on, the combined GDP of emerging E7 economies (China, India, Brazil, Russia, Mexico, Indonesia and Turkey) will overtake the G7’s combined GDP. Analysts predict that Russia will move up the GDP rankings over the next two decades and could move into sixth place - ahead of Germany - before 2030. While PwC analysts established a link between Russia’s growth and its energy resources, domestic economists also point to growth of the IT and high-end technology sectors as influential factors.