Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
Moscow, June 4 (Xinhua) — Russia’s economy has entered a period of cooling after high growth rates in the previous two years, Russian Economic Development Minister Maxim Reshetnikov said. The ministry’s press service reported this on Tuesday.
Speaking in the Federation Council of Russia, M. Reshetnikov noted that more and more industries in the real sector are demonstrating a decline in output. The growth rate of consumer demand is slowing down, and the increase in the population’s income is being sent to savings, while a slowdown in inflation is being recorded, the minister added.
M. Reshetnikov pointed out that Russia needs to go through the cooling-off period wisely and expressed hope for a timely easing of monetary policy in order to maintain GDP growth rates of 3 percent in the long term. In addition, he also assured that the government is taking steps to optimize the investment programs of the largest companies. –0–