A socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of international conventions; exhibitions; and business, public, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5,000 people working in Russia and abroad.

The Foundation works alongside various UN departments and other international organizations, and is building multi-format cooperation with 165 economic partners, including industrialists’ and entrepreneurs’ unions, financial, trade, and business associations from 76 countries worldwide, and 154 Russian public organizations, federal and legislative agencies, and federal subjects.

The Roscongress Foundation has Telegram channels in Russian (t.me/Roscongress), English (t.me/RoscongressDirect), and Spanish (t.me/RoscongressEsp). Official website and Information and Analytical System of the Roscongress Foundation: roscongress.org.

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Forecast of Social and Economic Development of the Russian Federation up to 2024

According to the forecast, inflation will reach 4.3% at the end of 2019, while the projected GDP growth rate is 1.8%.

Major industry groups will show substantial growth; besides, industries which are currently exploiting their export potential are expected to make a positive contribution to economic development.

Growing non-commodity exports and services exports will support a current account surplus, overshadowing a decline in oil and gas exports in value terms. Capital outflow is expected to decrease significantly.

Manufacturing is forecast to demonstrate considerable growth in the next few years, reaching 22.8% by 2024. The fuel and energy complex will show steady performance. Gas production is expected to increase, boosted by a more active development of gas fields.

Taking into account balanced solutions in fiscal policy and steady and efficient functioning of the labor market, as well as a set of measures aimed at reducing the level of poverty, the GDP structure by income approach is expected to stay relatively stable up to 2024.

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