Becoming a Russian Oligarch After Rebirth
Chapter 1480 - 1140 Primary Developed Country

Chapter 1480: Chapter 1140 Primary Developed Country

Time flies, and amid the busyness, the end of the year has arrived again.

This year marks the first year since Wang Ye took office, and now is the time for him to present his first report card.

Setting aside military, foreign affairs, and personnel matters, which the general public cannot readily perceive changes in, what everyone is most concerned about is naturally the development of the economic aspect.

Whether the country has indeed become wealthier, how much GDP has grown, these are what people are most interested in!

The government has also released this year’s financial report, disclosing various economic data nationwide.

In 2009, the National GDP, calculated in US dollars, reached 2.9 trillion!

Last year, the Total GDP barely reached two trillion, but this year it directly increased by nine hundred billion, with a growth rate of 45%!

Many people couldn’t believe this number when they saw it for the first time, thinking it was a mistake.

Or simply fraudulent!

But the Financial Department also provided detailed statistical data in the report, and specifically explained why the GDP growth rate was so high this year.

Firstly, this year saw many large-scale fixed investment projects, such as the official production and start of exports to other European countries by several of Japan’s major automobile manufacturers, and major projects by Samsung with total investment amounts exceeding twenty billion US dollars, as well as national investments in infrastructure.

Just these fixed investments alone approached three hundred billion US dollars!

And fixed investments are also counted into the GDP data...

Secondly, affected by the economic crisis in Europe and the United States, and also due to Russia’s own continuous strong economy, the Ruble’s exchange rate saw a significant rise!

This, reflected in the GDP data calculated in US dollars, equates to an additional increase of nearly twenty percent!

If calculated using Rubles, then the GDP growth would not seem so exaggerated, but it is still very impressive.

Russia’s GDP is calculated using the expenditure approach, the specific formula is:

GDP = Final Consumption + Government Expenditure + Gross Capital Formation + Net Exports.

There are four key data points within, setting consumption aside for now, the latter three are solidly incorruptible, benefiting from Wang Ye’s aggressive economic policies, government spending has been increasing significantly every year!

Moreover, under Wang Ye’s leadership, the business environment has improved, enhancing economic vitality, thereby attracting a lot of foreign investment to enter Russia in recent years, with many significant projects being established.

As for net exports, just look at Russia’s several pillar industries, energy, metals, automobiles, chip wafers...

These are all major exporters!

Thus, in Wang Ye’s first year in office, he was able to present such an unbelievably good report card!

Some may say he is lucky to have taken office just as Russia’s economy was experiencing explosive growth.

But this actually doesn’t make sense, as this year’s excellent economic performance is also inseparable from the various economic policies Wang Ye promoted in previous years.

Don’t forget, he has been the head of the Economic Affairs Committee for several years now, and during these years, the national economy’s major direction and policies have always been orchestrated by him!

...

After this year’s economic data was disclosed, it immediately caused a sensation worldwide, considering Russia’s economy is not small, having also been one of the top ten economies globally last year.

On this basis, and especially during a time when the global economic crisis was just beginning to ease, achieving such high economic growth is indeed astonishing.

Compared to many countries in Europe and the United States where GDP has stagnated or even declined, this is even more precious!

"New Economic Miracle! The World’s Attention Turns to Eastern Europe"

"Stunning 45% Growth Rate!"

"Russian Economy Reaches New Heights!"

"The Next Decade, The World’s Best Investment Region: Russia!"...

Various economic periodicals began to explore the so-called "Russian miracle," investigating why Russia has achieved such remarkable economic growth even when the overall environment is adverse.

Of course, in the Global GDP rankings, Russia really did rise to the fourth position, only behind the United States, Japan, and China.

Even surpassing the traditional economic powerhouses of Germany, France, and England!

In fact, on this list, except for China, Russia, and India, other countries compared to last year not only didn’t grow, but have also somewhat decreased!

Because during the middle of this year, the economic crisis had just begun to recede, and many countries’ economies were still affected in the first half of the year.

Like the United States, the year before last, in 2007, the Total GDP was already 14.8 trillion US dollars, but this year it was only 14.4 trillion, four hundred billion US dollars less than two years ago...

So in comparison, Russia’s economic achievements are even more dazzling!

Moreover, this 2.9 trillion US dollars GDP total value also "triggered" an "achievement", which means that Russia has now stepped into the ranks of "elementary developed countries"!

This has been the long-desired goal of all Russians since the breakdown of the Former Soviet...

According to internationally accepted standards, so-called developed countries are divided into three levels:

Highly developed countries with per capita GDP reaching forty thousand US dollars.

Moderately developed countries with per capita GDP reaching thirty thousand US dollars.

Elementary developed countries with per capita GDP reaching twenty thousand US dollars!

In 2009, with a total population of 143 million, and a National GDP total value of 2.9 trillion US dollars, per capita GDP just surpassed twenty thousand US dollars!

So, without any doubt, Russia has indeed stepped into the ranks of elementary developed countries!