Russia will escape recession – Economic Minister — RT Business

Russia will escape recession – Economic Minister — RT Business:

"

Russian Minister of Economic Development Alexey Ulyukayev (RIA Novosti)

Russia will manage to avoid recession, says Aleksey Uluykaev, the country’s Minister for Economic Development. The official statement comes just days after Russia’s key statistics service said in 2Q the economy had expanded at the slowest pace since 2009.

“There’s no recession. And there won’t be one. Stagnation is probably a more appropriate term [to describe the Russian economy],” Uluykaev told Kommersant in his first interview since he was appointed to the position in June.

While poor investment and inefficient institutions remain huge drags on Russia, domestic demand and exports should help the country remain afloat, Ulyukaev added."

'via Blog this'