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Monday, October 24, 2016

The speaker announced the end of the crisis in Russia

The Minister of economic development of Russia Alexei Ulyukayev said about the end of the crisis in the country. The economy, he said, came out of the zone of recession in the third quarter of last year.

photo: Natalia Gubernatorova

However, in the first quarter of 2016, GDP growth will still be in the negative zone, the speaker announced during a briefing in Sochi, reports “Interfax”.

The Minister noted that the Russian economy had fully adapted to Western sanctions. “Frankly, right now, some of the macroeconomic effects of not see at all,” added the Minister.

Read the article “MK”: Russia quietly pursuing the most ambitious restructuring of the economy

Ulyukayev said that sanctions had damaged the Russian economy only in the first stage, causing inflation and putting in the difficult position of the Russian companies that had to repay their loans in the West. Now, according to the Minister, the business has adapted to external conditions, and inflation has almost reached its pre-crisis level.

The Minister noted that the West, most likely, will not abandon the sanctions policy against Russia. The question of the extension of economic restrictions against Moscow should be resolved at the EU summit in late June.

So far the only EU country that opposes the automatic extension of sanctions is Italy.

Sanctions . Chronicle of events

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