The market capitalisation gains to the tune of 37.6 per cent and 7.4 per cent in real GDP growth were the highlights of the economy. There is a growing international interest in the country as a global player.

Moscow is emerging as a respected and global financial centre, highlighted by its playing host to the world’s top-two IPOs in 2007. Notably, Russia is currently the world's largest exporter of gas and its second-largest producer of oil,28 which allowed it to capitalize on sharp increases in energy prices through its exports of natural resources, the report said.