Russia’s economy is experiencing change, the largest in the last 15 years. At the same time, the authorities that accompanied the conversion”, without fanfare and hype,” by similar changes in Saudi Arabia, (Kingdom launched the Vision 2030 program to the end of April).
The result of the collapse of the oil market, the recovery of a number of Russian industry. “New drivers of growth. These are agriculture, chemical and food industry, domestic tourism,“ – said the Agency, the Deputy Minister of Finance of Russia Maxim Oreshkin. At the same time, you have not yet managed to conclude, the structural fall in other sectors, confirmed the official.
The Agency notes that the longest recession in 20 years in Russia until the end of may in the third quarter of 2016. The annual rate of inflation slowed to 7.3 percent, down from a maximum of 13 years in the value of 16.9 percent (it was achieved, last year in March). The contribution of agriculture to GDP increased to 4.4 percent – the largest figure since 2003, Bloomberg notes.
BloombergThe transition to a floating exchange rate has helped many sectors of the economy. However, the greatest difficulty experienced by the Russian energy market and in the case of international sanctions, the Agency said.
“Some sectors have benefited from the devaluation. But this is a one-time. The shift, but the reconstruction has not yet begun. What is needed – as an investment and the confidence of investors, the reforms “, – said the head of the economic expert group Evsei Gurvich in Moscow.
The investment climate remains the most problematic point in the Russian economy. At the same time there is some progress in this area. Bloomberg recalls that in the ranking of Doing Business of the world Bank, the country rose to 51. Place.
Russia is said to economy, Finance Minister Anton Siluanov that Russia has adapted the economy to the current situation in the world economy. The officials said the growth of agriculture and industry. According to the Minister, such an adjustment has taken place, due to the floating ruble exchange rate, measures of support for key sectors of the economy.
The Russian gross domestic product decreased compared to the same period last year by 1.2 percent in the first quarter of 2016. In 2015, the Russian economy shrank by 3.7 percent.