Minister of Finance and chairman of the National Coalition Jyrki Katainen.

The National Coalition’s attempt to humble Russia with reference to the diminished size of its economy backfires, the financial newspaper Kauppalehti reports.

“Minister of Finance and chairman of the National Coalition Jyrki Katainen’s statements on the size of the Russian economy which caused a stir this week were based on outdated information.

The National Coalition’s ministers Katainen, Alexander Stubb and Jyri Häkämies while in Rauma this week, attempted to strip Russia of its status as a major economic power. According to Katainen, Russia’s statements don’t ring true as the country’s economy is the same size as that of Holland.

The World Bank says otherwise. According to its statistics, Russia’s economy is twice the size of Holland’s economy, measured by gross domestic product. Rather, Russia’s economy is in the same size category as Spain’s.

During the years 2000-2008, Russia’s economy had grown at a rapid annual rate of seven per cent. Due to this, Russia qualifies for membership of the G8 club of major economic powers. Russia is among the ten largest economies in the world.”

KAUPPALEHTI 20 AUGUST. KIRSI HÖLTTÄ
Lehtikuva - Kimmo Mäntylä