Russians and Greeks recognized the most ineffective workers – RBC

The citizens of Greece and Russia is carried out on the job longer than workers in other European countries. However, their work is the least efficient, experts found out that the Organization for Economic Cooperation and Development (OECD). Data from the study report of the OECD publishes Bloomberg.

According to the number of hours spent at work, the Russians are second only to the Greeks, the study said. If the Russian employees spend at work 1982 hours a year, in Greece, the figure was a record for Europe – 2034 hours per year. It turned out that a large number of hours spent at work is not at all good for the economy.

The researchers note that both countries are significantly inferior to the European average efficiency, which is measured as the ratio of GDP to hours spent at work. If the average for the 28 EU countries, the figure is $ 50, while in Russia it is very low: only $ 25.9 adds each hour of working time to the country’s GDP. The Greeks, on average per hour supplement GDP by $ 36.

Low labor productivity, the report says, reduces the economy. In addition, the situation aggravated and other structural problems, such as the demographic crisis and the fall in investment.

As previously wrote RBC Center of the HSE carried out a quarterly survey of professional forecasters regarding the prospects of the Russian economy in 2015-2016 year and continue until 2021.

Total participated in the survey 23 analysts, including experts the Boston Consulting Group, HSBC, JP Morgan, Morgan Stanley, Lukoil, UniCredit Bank, «VTB Capital», Raiffeisen Bank , Center for Macroeconomic Research of Sberbank of Russia, Institute for Economic Policy. Gaidar and other companies and institutions.

According to the consensus forecast of analysts, in 2015, Russia’s GDP will lose 3.7%, while they significantly lowered the forecast for 2016. If they had talked about the growth of the economy by 0.9%, while in the latest survey predicted an increase in GDP of 0.3%. In the long term, experts say, the economic growth in Russia hardly will exceed 2%.

Center for Macroeconomic Analysis Alfa Bank also lowered its forecast for 2016 from 1.5 to 0.3%. In the long term they expect that economic growth will vary between 0.5-1% growth per year.

According to experts, such low levels are associated with structural problems in e Conomy. We are talking about the lack of investment share in GDP in 2013 was only 23%, and is now reduced by the additional pressure of sanctions, the reduction in the labor market, which is suffering from demographic problems and to reduce the productivity of labor, including associated with the growth of the informal sector, which has recently been moving even qualified.