Automotive Investments: Climate in Russia, Focus on St. Petersburg and Leningrad Region
Russian economy
High oil prices support continued growth and strong ruble
Domestic consumption surge (purchasing power grew by 13.5%)
Most major ratings agencies - S&P, Moody's and Fitch - have upgraded Russia's investment rating
Strong growth in the machine-building and automotive sectors (up to 10% and 5% in the last 5 years)
and expected further growth of 12% to 2015
Nominal and real GDP growth
US$ bin.
3000
2500
5.1%
2000
1500
1000
4.7%
7.3%
7.2%
co
8
7.8%
7
6.7%
6.8%
6.4%
6.4%
co
6
5.2%
5.2% 5
LO
4
3
2
500
1
307
346
432
589
763
985
2001
2002
2003
2004
2005
2006
1,288
2007
1,602 1.796 2.002 2,182
F2008 F2009 F2010 F2011
0
Real GDP growth (%y-o-y)
Nominal GDP (US$ bln.)
Source: Rosstat, Ministry of Economic Development of the Russian Federation, Ernst & Young
September 4, 2008
3
Investment Climate in St. Petersburg and Leningrad Oblast
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