Perspectives of the Russian economy

Abstract

Subject. The article addresses the perspectives of the Russian economy. Objectives. The aim is to describe prospects for the economy of Russia. Methods. The study draws on the systems approach, using the methods of statistical, neural network, and cluster analyses. Results. The paper actualizes the need to describe prospects for the Russian economy in the context of the impact of sanctions, disconnection of Russian banks from international payment systems, the ban on technology imports, refusal of international companies to work in Russia. It unveils the structural importance of population dynamics, gross domestic product in constant prices in rubles, gross domestic product deflator, total government spending as a percentage of GDP. The results of the neural network analysis of the growth rates of indicators of prospects for the Russian economy identified the population as a priority, and the cluster analysis recorded the necessary relationship between the gross domestic product in constant prices in rubles and the population. The article includes graphical representation of the perspectives of the Russian economy as the growth of gross domestic product in constant prices in rubles in the context of depopulation. Conclusions. The outlook for the Russian economy is described by the dynamics of GDP growth in constant prices in rubles and declining population. This finding points out opportunities to government members to adapt to living under unprecedented US and EU sanctions.