We investigate corruption, uncover fake news and analyze the news agenda. The BIC is a member of the global network of investigative journalists.
Our journalists are the recipients of the national award “Free Word” from the Association of Journalists of Belarus in 2018, 2019, 2020, 2021 and 2022. At "Free Word" 2021 BIC’s team also received first place for Analytics
BIC is a member of the OCCRP (Organized Crime and Corruption Reporting Project)
We are also members of GIJN (Global Investigative Journalism Network)
Second among G20 countries? How manipulating the data inflated Russia’s economic performance sevenfold
A proper comparison shows that four G20 countries surpass Russia in GDP per capita growth.
From 2000 to 2024, Russia was reported as ranking second among G20 nations in GDP per capita growth. That claim, with an infographic, was published by the Asia Today portal and the Telegram channel Zemlya Nasha. The Weekly Top Fake team found out why these statistics are misleading.
The story about Russia’s economic success appeared on September 8, 2025.
“From 2000 to 2024, G20 countries showed different patterns of economic development. Against the backdrop of overall growth, Russia stands out: despite 11 years of continuous sanctions against key companies, it ranked second in GDP per capita growth among all G20 nations,” the Asia Today portal wrote.
The infographic cites World Bank data on GDP growth from 2000 to 2024 in G20 countries (the world’s 20 largest developed and developing economies). China tops the ranking with growth of more than 1,200%. Russia is second with 740%. The authors attribute Russia’s gains to the economy’s internal resilience, import substitution, the growth of domestic industries, and strategic financial policy.
The WTF team compared the figures with data from the World Bank website and found that the infographic used so-called nominal GDP. This indicator is calculated at market prices for the year in question, without adjusting for inflation. If prices in a country rise quickly, the figure can increase even if output remains unchanged.
In order to accurately compare an economy across years without distortions caused by changing prices, it is better to use GDP in constant prices of a single base year. The World Bank, for example, uses 2015 prices. In that case, the picture for G20 countries ranking looks different. China, India, Turkey and Indonesia all surpass Russia, putting it in fifth place. Russia’s real GDP per capita growth over nearly a quarter century is just over 100%. For comparison, Poland’s GDP per capita grew 143% over the same period, while Belarus’ rose 160%. But neither Belarus nor Poland is part of the G20.
