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Russian 2013 GDP growth far from satisfactory - minister

Feeble GDP growth was due to both internal and external factors

MOSCOW, January 29. /ITAR-TASS/ Last year Russian GDP grew 1.4%, “which is by no means satisfactory”, Minister of Economic Development Alexei Ulyukaev told the upper house’s meeting on Wednesday.

Feeble GDP growth was due to both internal and external factors, Ulyukayev added, among them recession in the eurozone. As for domestic drags on GDP growth, he noted weak investment dynamics.

“Last year fixed assets investments dropped 0.3% for the first time in several years,” the minister said. “This is primarily due to state capital investments that, according to interim estimates, showed a 20% decline.”

The ministry’s forecast for 2014 GDP growth is 2.5%.

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