Existing and potential sanctions on Russia may slow down the pace of its economic growth next year to 1 percent of domestic output, the head of the financial oversight body said on Thursday.
MOSCOW (Pakistan Point News / Sputnik - 08th November, 2018) Existing and potential sanctions on Russia may slow down the pace of its economic growth next year to 1 percent of domestic output, the head of the financial oversight body said on Thursday.
"When we take into account uncertainties in international affairs, sanctions that have increased since August and can potentially do it again, we may see the cumulative effect reduce the economic growth to 1 percent or less, below the central bank's forecast," Accounts Chamber head Alexei Kurdin said.
The Russian central bank in September predicted the national economy would expand at an average of 1.2-1.7 percent in 2019, after growing 1.9 percent in the second quarter of 2018. It retained this year's forecast at 1.5-2 percent of industrial output.
