Russian economy to grow 0.5 percent this year, possibly more, says Medvedev

The Russian economy is projected to grow 0.5 percent this year, and while this is not a very good figure, the situation in other countries does not differ much from Russia, Russian Prime Minister Dmitry Medvedev said in an interview with Russian newspaper Vedomosti.

The Russian economy is projected to grow 0.5 percent this year, and while this is not a very good figure, the situation in other countries does not differ much from Russia, Russian Prime Minister Dmitry Medvedev said in an interview with Russian newspaper Vedomosti.

"We have focused on significantly higher growth rates. Now we are proceeding from the fact that the economy will grow 0.5 percent this year, possibly a little more. Next year - around 1 percent. This is small and not very good, but the world is also in a fairly complicated situation," he said in an interview commemorating the publication's 15th-year anniversary.

Medvedev added that the Russian economy was exposed to "not only foreign shocks, but also structural imbalances." The world GDP growth forecast is around 3 percent, while the growth forecast for the European economy has been adjusted to 0.9 percent, he said. The forecast for the American economy is around 2 percent.

"That is, one cannot say the situation in other countries differs much from ours aside from several quickly developing economies, such as China," Medvedev said.

Read more: Russian Economic Ministry downgrades forecast for 2014>>>

 

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