Government Cuts Long Term Forecast 35% | Business | The Moscow Times:
"The government has cut its long-term growth forecast to 2030 by 35 percent due to lack of public and private investment in non-energy sectors, such as science, technology and transportation.
The Economic Development Ministry reduced the GDP growth forecast from 4.3 percent, which it predicted in April to 2.8 percent, Vedomosti reported, citing a ministry report.
In April, the government hoped for the so-called "innovative" scenario for the country's long-term development, which would fall between an accelerated and a "conservative" scenario, but in September it lowered the forecast to a "conservative" outlook.
Since September, the growth forecast has worsened even more."
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