The Russian economy is expected to expand at a rate of slightly over 3 percent in the long term, as forecast by the Economic Development Ministry.
MOSCOW (Pakistan Point News / Sputnik - 22nd November, 2018) The Russian economy is expected to expand at a rate of slightly over 3 percent in the long term, as forecast by the Economic Development Ministry."There are two major trends: a positive demographic trend and a slower productivity growth, which will stabilize the economic growth at a rate of slightly higher that 3 percent of gross domestic product," Development Minister Maxim Oreshkin told reporters.
An autumn report by the European Commission this month maintained Russia's economic growth in 2018 at 1.7 percent of domestic output. The EU forecast expects it to slow down to 1.6 percent in 2019.
