Russia faced ‘year of lost opportunities’ in 2013 — RT Business

Russia faced ‘year of lost opportunities’ in 2013 — RT Business:

"Economically 2013 was a year of broken illusions for Russia. GDP added just 1.3 percent, while everybody expected an average growth of 4 percent.

“This was a year of lost opportunities,” as Deputy Minister for Economic Development Andrey Klepach put it.

Despite some progress in terms of improving the investment climate , infrastructure bottlenecks and a lack of domestic demand weighed down Russian growth in 2013, says Vedomosti newspaper.

The year ends with investment contracting and industrial production decreasing. December marked the continuing fall of manufacturing activity as the HSBC Purchasing Managers' Index (PMI), which serves as a barometer of business conditions, had its sharpest fall since December 2009."

'via Blog this'