New concerns for the Russian economy

On October 9, Sberbank CEO German Gref predicted that by 2030, Russia will lack about 1 million IT specialists compared to demand.

The Russian economy has so far generally maintained positive growth momentum. (Source: AFP)

"The demand for experts in the field of artificial intelligence (AI) in the labor market is increasing rapidly. The shortage is likely to become more severe, as this seems to be the field with the highest demand for labor today," said CEO Gref.

Sberbank - Russia's banking giant and a major technology company - is investing more than 450 billion rubles ($4.63 billion) in the information technology sector in 2024-2026.

Mr. Gref expressed hope to recover this investment through profits from artificial intelligence (AI) this year alone.

Meanwhile, unemployment in Russia is at a record low. Officials are calling the labor shortage a major concern for the country’s economy. Because of the flexibility of IT jobs, many professionals in the field have moved abroad.

The government also estimates that by the end of 2022, there will be 100,000 specialists in this field working for Russian companies abroad.

In terms of the economic situation, Moscow has faced major external shocks after the outbreak of conflict in Ukraine in early 2022, namely: some traditional export markets closed, supply chains were disrupted, access to global financial markets was hindered, and commodity prices and exchange rates fluctuated sharply.

However, the economy has so far generally maintained positive growth momentum.

At a meeting on economic issues in July 2024, Russian Prime Minister Mikhail Mishustin said that the country's GDP growth reached 5% in the first five months of 2024, significantly higher than forecast.

Source: https://baoquocte.vn/noi-lo-moi-cua-kinh-te-nga-289519.html