Arab Today, arab today russia sees growth slow sharply amid ukraine crisis
Last Updated : GMT 15:19:59
Arab Today, arab today
Arab Today, arab today

Russia sees growth slow sharply amid Ukraine crisis

Arab Today, arab today

Arab Today, arab today Russia sees growth slow sharply amid Ukraine crisis

Moscow - AFP

Russia on Thursday reported a sharp slowdown in economic growth in the first quarter that analysts attributed to fallout from the raging crisis in neighbouring Ukraine. The state statistics agency said the Russian economy grew by 0.9 percent between January and March over the same period last year. The figure represented an improvement to an initial 0.8 percent estimate but a steep decline from the 2.0 percent figure seen in the last quarter of 2013 "While GDP data published earlier today show that the rest of emerging europe is recovering, the region's largest economy -– Russia -– looks as though it may be in recession," said emerging markets economist Neil Shearing of Capital Economics. The International Monetary Fund last month said Russia was already in a technical recession after estimating that it had recorded two consecutive quarters of negative quarter-on-quarter growth. Top Moscow officials have also said in recent weeks that the economy might register no growth at all this year should the West follow through with its threat to impose sanctions on key sectors of Russia's economy such as energy and the arms industry. The United States and the European Union are mulling broader sanctions against Russia for its alleged attempts to splinter Ukraine by backing separatist militants in the east of the ex-Soviet state. Economists attribute Russia's slowdown in part to nearly $100 billion in investment capital that is believed to have fled the country this year because of the looming sanctions threat. Economy Minister Anton Siluanov said on Thursday that he still expected the economy to expand by 0.5 percent this year. But he also admitted that Russia's current growth forecast may be "a bit optimistic". Prime Minister Dmitry Medvedev for his part told a government meeting devoted to Russia's economic problems that Moscow had to objectively face the expanded sanctions threat. Policymakers must take account of "the serious limitations that Russia has recently faced -- particularly the drop-off in investment and consumer demand." "We must assess all these factors objectively, without euphoria or excessive drama -- in other words, calmly," Medvedev said in televised remarks. Washington and Brussels have thus far unveiled two rounds of sanctions against Kremlin-linked companies and officials in both Russia and Ukraine believed to have been involved in Moscow's recent annexation of Crimea. But both EU and US officials are now mulling sanctions against specific sectors of Russia's economy should Moscow be deemed to have stood in the way of Ukraine having free and fair presidential elections on May 25. Shearing of Capital Economics said the latest data from Moscow should "lay to rest any lingering beliefs that Russia’s economy will prove to be relatively resilient in the face of the deepening crisis in Ukraine."

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 russia sees growth slow sharply amid ukraine crisis Arab Today, arab today russia sees growth slow sharply amid ukraine crisis

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 14:57 2017 Monday ,20 February

A giant initial public offering on track

GMT 14:50 2017 Monday ,20 February

Energy Market Research

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
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