Interfax: Klepach: Any new shocks to global economy could reduce Russian GDP growth to zero

Andrei Klepach file photo

ASTANA. May 23 (Interfax) – Any new shocks to the global economy have the potential to reduce Russian GDP growth in 2014 to zero, Deputy Economic Development Minister Andrei Klepach said. “If any shocks in the global economy occur, such as a drop in oil prices or further aggrava tion of the geopolitical situation, GDP could of course be near […]

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Interfax: Klepach: Russia needs new measures to spur growth; current measures insufficient

Andrei Klepach file photo

MOSCOW. Dec 20 (Interfax) – Russia needs to enact new measures to spur economic growth since the measures that have already been approved are insufficient, Deputy Economic Development Minister Andrei Klepach said at a briefing in Moscow on Thursday. “Those measures that have been approved are insufficient to accelerate growth. Therefore, I think that enactment of new measures is both […]

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Russian economy still stagnating, Q3 growth almost zero – Klepach

Andrei Klepach file photo

(Interfax – MOSCOW, October 16, 2013) The Russian economy is still stagnating, with zero GDP growth in Q3 this year on a seasonally adjusted basis, Deputy Economic Development Minister Andrei Klepach said at a meeting of the State Duma’s budget committee. “The forecast was that we would reverse the tendency for economic growth to slow and this stagnation, which we […]

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Macroeconomic factors to work against oil prices in 2014 – Klepach

Andrei Klepach file photo

(Interfax – MOSCOW, October 16, 2013) Macroeconomic factors will work to push oil prices down next year, Deputy Economic Development Minister Andrei Klepach said during a meeting the State Duma budget committee. Klepach said that that, in the forecast for Russia’s socioeconomic development in 2014-2016, there is built in the hypothesis “that the rather high oil prices we are seeing […]

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Government programs need quality review – deputy minister

Andrei Klepach file photo

(Interfax – MOSCOW, October 8, 2013) Russian government programs require a quality review, as their funding is not backed by real budget spending, Deputy Economic Development Minister Andrei Klepach said at a parliamentary hearings in the Federation Council in Moscow on Tuesday. “Government programs in key sectors – infrastructure, healthcare, education and science were compiled and considered with financing that […]

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Capital outflow from Russia not yet slowing, ruble not to weaken substantially – Klepach

Cash, Calculator, Pen

(Interfax – MOSCOW, September 16, 2013) Capital outflow from Russia is not yet slowing but the ruble will not weaken to any great extent, even if oil prices fall, Deputy Economic Development Minister Andrei Klepach told Interfax. “The ruble will not weaken substantially even if oil prices fall markedly. The Central Bank (in that event) will lose more reserves,” Klepach […]

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Economic ministry expects Russian GDP growth to quicken to 1.9% in Q3, to 2.2% in Q4

File Photo of Cash, Coins, Line Graph

(Interfax – MOSCOW, August 27, 2013) The growth of Russia’s gross domestic product could quicken to 1.9% in the third and 2.2% in the fourth quarters, Deputy Economic Development Minister Andrei Klepach told the press. “We have revised the GDP growth forecast for the third quarter to 1.9%, for the fourth to 2.2%, Klepach said, noting that second-half growth generally […]

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Russian GDP growth accelerates to 2.6% in April, economy grows 1.8% in 4M – Klepach

File Photo of Cash, Coins, Line Graph

(Interfax – MOSCOW, May 27, 2013) Russian GDP grew 2.6% year-on-year in April, compared with growth of 2% in March, the Economic Development Ministry estimates. The economy grew 1.8% year-on-year in January-April, Deputy Economic Development Minister Andrei Klepach said at a briefing. GDP grew 0.1% in April compared with March on a seasonally adjusted basis after rising 0.4% in March. […]

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Russian Econ Ministry expects GDP growth to quicken to 2.1% in Q2

File Photo of Cash, Coins, Line Graph

(Interfax – MOSCOW. April 15, 2013) The Russian Economic Development Ministry expects GDP growth to accelerate to 2.1% in Q2 2013, from 1.1% in Q1, and to around 3% in H2 2013, Deputy Economic Development Minister Andrei Klepach told reporters. “The slowdown in economic growth is here for all to see. But we work on the basis that there’ll be […]

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