Does stagnation await Russian economy?
Russia needs GDP growth rates two to three times higher than those laid down in the economic recovery plan (2-2.5%), otherwise stagnation cannot be avoided, Sergei Grishunin, managing director of the rating service of the National Rating Agency, warned.
According to the agency's forecasts, the Russian economy will fall by 4% this year, and will return to 2% growth by next year.
The expected growth rates in the economic recovery plan (2-2.5%) are, according to Grishunin, "extremely low for an emerging market." They "can be characterized by the word 'stagnation'," he said.
With such growth rates, the recovery of citizens' incomes will be slow, and investors' interest in the Russian economy may disappear, managing director of the rating service of the National Rating Agency stressed.
"The constant threat of sanctions will lead to the devaluation of the ruble, even if the dollar is falling," RIA Novosti quoted him as saying.
The expert stressed that the rate of economic growth should be much higher than planned.
"Russia needs a new 'big leap' and the growth rate two or three times higher than it's currently planned,” he concluded.