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Kudrin says Russia’s GDP growth will not exceed 1% in next two years

October 17, 2016, 15:36 UTC+3 KAZAN
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KAZAN, October 17. /TASS/. Russia’s GDP growth will not exceed 1% per year in the next two years, Head of Russia’s Center for Strategic Research (CSR) and ex-Finance Minister Alexey Kudrin said Monday, adding that it may take 3-4 yeas to get back to the strong growth trajectory.

"Since 2010, following the 2008-2009 crisis the average growth rates have amounted to 1% until now, which is very low for Russia and we’re unlikely to critically change this dynamics in the next two years," he said, adding though that decisions have to be taken "to change this dynamics and reverse the situation within the next 3-4 years."

According to Kudrin, "Russia’s growth rate will average 2.5% until progress is made regarding a number of reforms."

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