Washington to use new sanctions to curb Russian energy projects, experts sayBusiness & Economy July 27, 17:15
Putin says Russian-Chinese cooperation is not aimed against any third countriesRussian Politics & Diplomacy July 27, 17:11
Expert believes US bill on anti-Russian sanctions may trigger new Cold WarRussian Politics & Diplomacy July 27, 16:03
Keying into the Russian Central Bank's key rateBusiness & Economy July 27, 15:59
Decision to strip Saakashvili of Ukrainian citizenship ‘not Kremlin’s problem’Russian Politics & Diplomacy July 27, 15:43
NHL three-time Stanley Cup winner Malkin still hopes to play for Russia at 2018 GamesSport July 27, 15:33
Brazilian football team’s staff kick off Russian language practice ahead of 2018 World CupSport July 27, 14:48
Kremlin explains why commenting on new US envoy pick would be inappropriate nowRussian Politics & Diplomacy July 27, 14:37
Kremlin comments on EU sanctions against RussiaRussian Politics & Diplomacy July 27, 14:36
BELOKURIKHA (Altai Territory), March 2 (Itar-Tass) — The global economy is not enveloped in a new wave of the crisis, Russian Deputy Economic Development Minister Andrei Klepach said on Friday.
“2012 is the year of stagnation for the eurozone,” he told the international winter grain conference in the Altai Territory’s resort of Belokurikha.
He forecast that the eurozone’s GDP growth will stay at minus 0.3 percent.
“The problem is not only in the debt crisis, but also in serious weakness of domestic growth factors in the eurozone,” Klepach said.
The European economy will face “a long-running road to get out of the crisis.”
However, the deputy minister forecasts certain growth already in 2013.
“The U.S. economy shows good figures now”, but its growth rates will slow down,” Klepach said. “At present, the GDP growth is 2 percent, and by the end of 2012 it is expected to reduce to 1 percent,” he said. “We are in a high turbulence zone.”
The Altai Territory’s resort of Belokurikha hosts the international winter grain conference unofficially dubbed as “Grain Davos” for the fifth time. It earned good reputation in business circles for making accurate forecasts concerning the market fluctuations and grain prices.
The conference’s organizers told Itar-Tass that it brought together 100 companies from 17 Russian regions, Kazakhstan and Germany.