Economists and Officials Disagree On Recovery Forecasts | Business | The Moscow Times:
"According to government predictions, state companies’ spending plans are likely to pull the economy out of stagnation toward the end of the year. Other economists, however, remain skeptical of these forecasts.
Figures for January released last week did not give grounds for optimism, and recent news reports have said that Russia may be headed into a recession.
Government officials remained hopeful despite State Statistics Service data showing that direct investment slumped 7 percent compared to the year before while analysts expected a 1.5 percent growth and retail sales growth slowed to 2.4 percent against 3.8 percent growth in December.
“Unfortunately, the economy continues to stagnate, but we anticipate an end to this stagnation will come in the second or third quarter,” said Deputy Economic Development Minister Andrei Klepach, PRIME Business News Agency reported Friday."
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