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Finance minister: Russia’s economic growth should exceed 3% in 2025

December 01, 2016, 14:40 UTC+3

"This is a very ambitious task, since we planned the growth from zero to 1.5% for three years ahead," Finance Minister Anton Siluanov said

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© Artiom Geodakyan/TASS

MOSCOW, December 1 /TASS/. The growth of the Russian economy in 2025 should catch up with world growth, which is more than 3%, Finance Minister Anton Siluanov said in an interview with the Rossiya 24 TV channel.

He was speaking after President Vladimir Putin’s state-of-the-nation address to the Federal Assembly (Russian parliament).

In his message Putin urged acceleration of the Russian economic growth and bringing it to the level, which is not lower than the world level.

"This is a very ambitious task, since we planned the growth from zero to 1.5% for three years ahead. This is a new target, a new task... We must achieve economic growth rate which is not lower than global (economic growth), which is more than 3%," Siluanov said.

He noted that the economic growth should be achieved firs of all through the growth of private investments in the economy.

"For this purpose we must create conditions: low inflation, low interest rates, stable and predictable exchange rate, stable tax environment, as stated in the address of the President," Siluanov said.

According to the updated forecast of Economic Development Ministry for 2016, the decline of Russia's GDP will amount to 0.6%. According to the basic forecast for 2017-2019, the economy will start to grow: GDP will grow by 0.2% in 2017 by 0.9% in 2018 and by 1.2% in 2019. According to the "basic plus" forecast, that the ministry considered to be the most realistic, the economy will grow by 1.1%, 1.8% and 2.4% respectively in the next three years.

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