SINGAPORE (Sputnik) – Russia expects economic growth to continue from this year to the next, with increases in GDP, income and consumer demand, First Deputy Prime Minister Igor Shuvalov said Friday.
"We are already seeing growth, albeit slow. Month to month, the Russian economy is growing. We hope that in the coming year this growth will be 1 percent or more," Shuvalov said.
Although insufficient for the Russian economy, any growth is a welcome development following GDP declines of 0.6 percent to 0.7 percent expected by the end of 2016, Shuvalov said at the Russia-Singapore business forum.
Next year could see renewed growth in population earnings and consumer demand in Russia, Igor Shuvalov said.
"Falling incomes are over. We hope that next year this will be a trend for all sections of society, that earnings will grow. And consumer demand should revive next year," Shuvalov said at the Russia-Singapore business forum.
