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Russian govt approves of moderately optimistic economic development scenario

In reality, the level of development may follow the lower border of that scenario, with the economy growing by about three percent

MOSCOW, May 16 (Itar-Tass) - The Russian government has approved of a moderately optimistic economic development scenario in drafting the country’s budget for the next three years, Deputy Economic Development Minister Andrei Klepach said after the Cabinet’s meeting on Thursday.

“The moderately optimistic forecast was approved as the main budget drafting scenario. Or you may call it moderately conservative, if you wish,” he said.

In reality, the level of development may follow the lower border of that scenario, with the economy growing by about three percent.

“To implement the presidential decrees one should seek to follow the third, accelerated development scenario,” Klepach said.

At the government meeting Economic Development Minister Andrei Belousov pointed to the existing risks that may cause the country to follow the low trajectory outlined in the conservative development scenario. In that case the economy will be growing by about three percent on the average.

“At the same time in order to implement presidential decrees and to cope with the social and economic tasks central to the government’s activity one should press for implementing the accelerated development scenario,” Klepach said.

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