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Ulyukayev: Russia’s economy stagnating

October 21, 2013, 14:50 UTC+3
Russia’s GDP has increased by 1.5% in the nine months of 2013, Economic Development Minister Alexei Ulyukayev said
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GORKI, October 21 (Itar-Tass) - Russia’s GDP has increased by 1.5% in the nine months of 2013, Economic Development Minister Alexei Ulyukayev said.

“Now there are small positive signals in the economic development. The economy is stagnating,” the minister said.

“Investments in capital assets have decreased by 1.4 percent. Industrial production has grown by 0.1 percent due to extractive industries,” he said, adding, “The situation has not improved. It is becoming worse based on statistical discrepancy.”

The Russian minister of economic development said that the situation in Russian economy had not improved. “It has even become worse to some degree if statistical error is to be taken into account,” Ulyukayev stressed.

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