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Economy Minister Says Russia Out of Recession More Than Six Months

The Russian economy has been out of retrogression for some-more than 6 months, Economic Development Minister Alexei Ulyukayev pronounced during a lecture during a Russia-ASEAN limit on Friday, a TASS news group reported.

Russia’s GDP might perform improved than a central forecast, that likely a decrease of 0.2 percent, Ulyukayev said, attributing it to rising oil prices.

The apportion combined that Russia’s economy has entirely blending to sanctions imposed by a West in 2014 following Russia’s cast of Crimea and impasse in a predicament in eastern Ukraine.

He pronounced there is a high probability that sanctions on Russia will be prolonged, starting from Jul 1.

In this case, Russia’s “counter-sanctions will of march stay in place,” TASS reported.

In response to a U.S; and EU restrictions, Moscow imposed a anathema on food imports from a operation of Western countries, that was extended final June.

The Russian economy, that had already started to delayed in 2013, plunged into a low retrogression in 2014 on a behind of a descending prices for oil and a Western sanctions.

Last year, Russian GDP shrank 3.7 percent. A pointy weakening of a ruble gathering annual acceleration to 12.9 percent and Russians’ genuine salary engaged 9.5 percent.

Article source: http://www.themoscowtimes.com/article/569930.html