Economic Minister says moderate economic growth possible in Russia in 2016

Alexei Ulyukayev file photo

(Interfax – February 2, 2016)

Economic Development Minister Alexei Ulyukayev does not rule out the possibility of the Russian economy shifting to moderate growth in 2016.

“A shift is already possible this year, perhaps, to moderate, recovery growth in the economy for the time being. We should be prepared for this,” Ulyukayev said at a ministry meeting on Feb. 2.

He also remarked that the revised social and economic development forecast will be prepared in April.

First Deputy Prime Minister Igor Shuvalov said that the government must complete 10-15 specific measures by the end of this year.

“By the end of the year, a concrete result and ability to show that we can work differently will be like our achieved task, […] the instruction method of management has outlived its usefulness, is useless, which is probably true, so let’s try doing things differently,” Shuvalov said.

Concrete results need to be demonstrated by two dates, by August and by December, he said.

“That’s August this year. We need to show on the eve of the elections what we did specifically for the country’s economy, for people, and in December 2016 [we need to show] that we managed to carry it through to completion. I think that there should be 10-15 such measures. What these projects will be should be determined within the context of councils; 10-15 points that we will have completed by the end of 2016,” Shuvalov said.