Russian growth postponed
The Russian economy will not experience any significant revival before in 2014.
According to a revised prognosis from the federal Ministry of Economic Development, the Russian economic growth will over the next two years be less than average world growth figures. Speaking to journalists this week, deputy minister Andrei Klepach confirmed that the Russian growth prognosis for 2011 is reduced from 4,2 percent to 4,1 percent.
While the prognosis for the oil price is positive, the Ministry of Economic Development reduces its prognosis for industrial growth and investments, while consumer growth, spurred by increased imports, is surging.
The prognosis for 2012 is a growth of 3,7 percent, while growth in 2013 is estimated to 4,1 percent, newspaper Vedomosti reports. If the prognosis turns out to be correct, the Russian economy will seven years after the start of the financial crisis in 2007 have grown 30 percent less than the world average, the newspaper informs.
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