Russia in Negative Economic Stage, Should Invest in Development – Economy Minister | Russia | RIA Novosti:
"Russia has entered a negative stage in the economic cycle and should invest in its own development, Alexei Ulyukayev, Russia’s minister of Economic Development, said in his article published in the Vedomosti newspaper Monday.
“It could be said that we have entered a negative stage of the economic cycle. Lack of demand is a significant obstacle on the way to restoring steady growth. In these circumstances, a decrease in government spending will only intensify the negative trend in the national economy, which, in turn, will hinder improving fiscal performance,” Ulyukayev said.
The Russian economy began stagnating in 2012 due to weak domestic growth rather than the changing geo-political environment. However, the minister also noted that now is a good time to invest in the country’s development."
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