After the economic boom in the period 1998-2008, when GDP growth averaged 6.8%, now Russia is recovering from the global crisis faster than most Western economies. Neverthe-less, its recent growth rate of 4% is below-par for an emerg-ing-market economy, and it is not expected to improve.
Russia might have fallen into the so-called “middle-income trap”. The economy of the country is confronted with challenges such as: a declining working-age population, lack of technology, oscillating oil price, reduction of international credit, Europe’s stagnation.
Next President’s legitimacy will even more depend on the eco-nomic performance of the country.