Arab Today, arab today russian economy adapted to new reality
Last Updated : GMT 12:27:49
Arab Today, arab today
Arab Today, arab today

Russian economy adapted to new reality

Arab Today, arab today

Arab Today, arab today Russian economy adapted to new reality

Economic Development Minister Alexei Ulyukayev
Moscow - XINHUA

Russian economy has mainly adapted to the new macroeconomic conditions and there are signs of recovery, Economic Development Minister Alexei Ulyukayev said Thursday.

"The economic figures were not strongly affected by another oil shock, and devaluation was less than before," Ulyukayev said, adding that inflation was decreasing.

In his view, it means that economy has adapted to the limited global demand for Russia's main export products and its limited access to international capital markets.

Ulyukayev said that the decline of gross domestic product (GDP) slowed down to 1.4 percent in the first quarter, with only a 0.6-percent decline in industrial production, while inflation rate was down to 7.2 percent in April in comparison with 12.9 a year ago.

He predicted that the country's GDP decline would further slow down to 0.2 percent this year. He also forecast a 0.8-percent growth next year and a growth of 2.2 percent in 2019.

Higher growth rate is possible in case of more active investment policy and a change in investment growth model, said Ulyukayev, who forecast an optimistic target of average oil price for 2016-2019 at 40 U.S. dollars per barrel.

The minister called for promotion of non-oil exports, innovation and human capital development, as well as more support for small and medium-sized businesses.

Russian economy has been suffering from a downturn amid slumping oil prices and crippling Western sanctions, which were imposed to punish Moscow's alleged role in the crisis in Ukraine.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russian economy adapted to new reality Arab Today, arab today russian economy adapted to new reality

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russian economy adapted to new reality Arab Today, arab today russian economy adapted to new reality

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday