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Russian Economy Slowing Down
13.12.2012 17:00

Russian economy will slow down in 2013 and is unlikely to meet the 3.7 percent growth target set in the national budget for next year, according to experts.

      At a forum held by FBK, one of Russia's first private auditing firms, its chief strategic analyst, Igor Nikolaev, pointed to the weak growth in one of the most critical indicators. Production of goods and services rose just 0.8 percent in October 2012, compared to October 2011, he said.

      Nikolaev believes this minor increase is driven by trade and real estate deals only, which means it can drop to zero any time soon.

      2013 will see a further decline and the target value of 3.7 percent growth fixed in the budget is hardly a realistic one, he warns.


Author: Mikhail Vesely

Tags: Russian economy FBK recession   

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