Another lie from Putin is that Russia was very successful during the last crisis and has recovered to the healthy pace of growth. And we know the name of the hero who led us though these dark years. Unfortunately for Russia, it had hardest problems between the BRICS countries. Figure 1 shows that Russia was the only country in BRICS who had a dramatic fall in real GDP per capita – the best variable describing real economic growth independent on the change in population.
The years of Putin as the Prime Minister are characterized by a deep fall in economic growth and there is nothing to be proud of. As shown in our previous post, the pace of economic growth between 2001 and 2008 was just an extension of the push given in 1998 and not by Putin.
Figure 1. The evolution of real GDP per capita in BRICS.