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Wednesday, April 26, 2017

Russian Economic Development Ministry increases 2014 outlook

The Russian Economic Development Ministry has increased its industrial outlook for 2014, the Eurasian Development Bank said on Tuesday.

The outlook was increased to 2 percent from 1.7 percent, Deputy Minister Alexei Vedev said.

Vedev said that the retail sales growth outlook would remain at 1.9 percent for 2014. The outlook is more likely to fall by at least 3.8 percent in 2015, Vedev said.

The unemployment outlook for 2015 was decreased to 5.5 percent from 5.8 percent that was predicted earlier. The indicator for 2014 was increased to 6.4 percent from the previous forecast of 6.1 percent.

This report is in line with earlier reports of international financial institutions decreasing initial predictions, continued sanctions against the Russian Federation and an expected decrease in oil prices.

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