New concerns for the Russian economy

On October 9th, Sberbank CEO German Gref predicted that by 2030, Russia will face a shortage of approximately 1 million IT professionals compared to demand.

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

CEO Gref stated: "The demand for artificial intelligence (AI) professionals in the labor market is rapidly increasing. The shortage is likely to worsen, as this appears to be the field with the highest labor demand currently."

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

Mr. Gref expressed hope of recouping this investment through profits generated from artificial intelligence (AI) within this year alone.

Meanwhile, unemployment in Russia is at a record low. Authorities are viewing labor shortages as a major concern for the country's economy. Because jobs in the information technology sector offer high flexibility, many professionals in this field have moved abroad for work.

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

Regarding the economic situation, Moscow has faced major external shocks since the outbreak of the conflict in Ukraine in early 2022, including: the closure of several traditional export markets, disruptions to supply chains, difficulties in accessing global financial markets, and sharp fluctuations in commodity prices and exchange rates.

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

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

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