LONDON (Sputnik) — The Russian economy is now coming out of recession, European Bank for Reconstruction and Development (EBRD) chief economist Sergei Guriev told Sputnik.
“We think that Russia is coming out of recession right now. It is a complicated concept, because when you look at quarter to quarter, you see one figure, but when you look year to year, you get different numbers. If we look at it year to year, then the recession would continue in the second half of 2016, but when you look at quarter to quarter, it would end [in 2016]. The situation is complicated, but the next year will begin with a growth of 1.2 percent annually,” Guriev said.
Guriev also said that although EBRD has no official prognosis for Russia’s economy after 2017, he expects country’s economy to grow some 1.5 percent after 2018.
