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10 Reasons to start your business in Russia

  1. The Russian economy has been enjoying a period of sustained growth since the 1998 crisis. GDP in 2011 grew by an estimated 4.2%. The forecast for 2012 is of more than 4.8% growth.

  2. The overall balance of trade continues to register healthy surpluses, as does the federal budget. In 2010, Russia's total exports were $396.4 billion and imports were $229 billion.

  3. The country's financial situation continues to improve, with a decline in sovereign debt levels and an increase in its sovereign credit ratings to investment grade achieved by all three major agencies S&P - BBB, Moody's - Baa1, Fitch Ч BBB.

  4. The refunding rate set by The Central bank is decreasing steadily (8,25% currently).

  5. Russia's gold and foreign currency reserves are increasing steadily and reached $510, 2 billion as of December 1st , 2011.

  6. According to economic forecasts, the middle class will constitute 60-70% of the population by 2020.

  7. Annual growth of consumption rate is 1-2%

  8. It is highly likely that Russia will join the WTO in 2012.

  9. A favorable tax regime. General tax rates: Corporate income tax - 20%- Unified social tax - 26-2% (regressive scale) - Personal income tax - 13%- VAT - 18%

  10. Leading European companies, especially those from Germany, Scandinavia and Turkey, are well established in both consumer and industrial markets. Many well-known U.S. consumer brands are also successful and many Asian companies from Japan, South Korea and China are also performing well here.

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