Hello 2014: Russia has woken up to its problems, but can it find a solution? | beyondbrics

Hello 2014: Russia has woken up to its problems, but can it find a solution? | beyondbrics:

"The 5th in our series of guest posts on the outlook for 2014 is by Chris Weafer of Macro-Advisory

In economic terms 2013 was Russia’s Annus Horribilis. From growth of 3.4 per cent in 2012, and early expectations of a repeat performance this year, the economy is much more likely to report growth of only 1.3 per cent. That is still a good number in global terms but a long way off the 4 to 5 per cent growth that the country actually needs. A second consecutive year of poor growth will feel like stagnation and lead to a raft of earnings forecast downgrades in companies exposed to the domestic economy.

The good news is that the President and his Kremlin advisors are finally starting to pay attention."

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