Russia: one of the world's richest countries?

With Russian presidential elections months away, the Russian administration is seeking to demonstrate that Russia is becoming a superpower. The Russian News Agency features an opinion piece that presents Russian government economic forecasts that predict the rising economic status of Russia.

On Tuesday, Russia's Economic Development and Trade Ministry submitted a remarkable document to the government - a plan for Russian social and economic development until the year 2020. With ambitious targets, it attracted the attention of experts even before its official publication.

According to the forecast, if the country shifts its economic orientation from raw materials to innovation, its gross domestic product will grow by an average of 6.7% a year, putting the Russian economy into the world's top five. At that rate, the country's economy will grow two-and-a-half times by 2020, giving it an annual per capita GDP of $30,000 - no less than Western Europe and North America.

Some experts smirk at the forecast for its starry-eyed idealism-but Russia's present-day and recent economic growth rates back it up. GDP has been adding almost 7% annually for the last eight years, exceeding the most optimistic projections of government experts and other analysts. The Economic Development and Trade Ministry has forecast a 6.5% growth rate for this year. It will certainly be greater than that-the Kremlin and the Cabinet expect 7-8%.

The Russian government forecasts are reminiscent of the promised Communism that was always within grasp of the Soviet Union. The reality of the present never distracted from the glorious future that awaited, a future where the Soviet Union was to surpass the capitalist countries.