EODE-RUSSIA/ 2017 03 01/
Russian Economic Development Minister:
“Russia’s economy to achieve 2% growth in 2017, period of crisis is ending”
« The recent data about freight turnover, electricity consumption and other things which we see at the beginning of the year are quite positive. All this indicates that the economy has returned to growth and we will see a good performance this year, » said Oreshkin on the sidelines of the Russian Investment Forum in Sochi. « Our updated forecast will be ready in late March. We currently expect about two percent growth by the end of 2017. That is, we expect very good dynamics in the economy. We see that investment activity has increased, » he added.
The current forecast from the Economic Development Ministry implies 0.6 percent growth this year if the oil price is $40 per barrel. Oil has been above $40 since February last year, allowing the ministry to issue a more optimistic forecast for the Russian economy. On Monday, Brent crude was trading above $56 per barrel.
“We have some recovery growth, and the period of crisis is ending. Uncertainty in the economy has also fallen considerably, » Oreshkin said.
EODE-RUSSIA/
ЕСДВ – Евразийский Совет за Демократию и Выборы
@EODE.russia.caucasus
