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Economic situation in Russia becomes more predictable, finance minister says

September 08, 2017, 14:51 UTC+3 MOSCOW

Russia has significantly improved its forecasts over the past year, Anton Siluanov said

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MOSCOW, September 8. /TASS/. The economic situation in Russia has become more predictable, Finance Minister Anton Siluanov said at the Moscow financial forum.

"If we recall last year, there were a lot of uncertainties and challenges, but we see that the situation has now become more or less predictable. The situation has improved, international organizations are forecasting higher growth rates than a year ago. The world economy will grow at a 3.5-3.6% this year and next year," Siluanov said.

"By the way, Russia has significantly improved its forecasts over the past year, we plan a more than 2% growth rate for the current year. The three year plan is to ensure a rate of over 2%," the minister added.

According to him, the main task for the government is to raise private investments.

"Actually, they are growing, for the second quarter they grew by 6%, and the wages of population grow by about 3% in real terms. In general, the Russian economy is recovering," Siluanov said.

According to the minister, Russia will be able to achieve the rate of economic growth which is faster that the growth rate of the global economy, only if the structural reforms are implemented. The Russian government is now working on such reforms and next year it will prepare appropriate changes in the legislation, Siluanov said.

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