Growth of 3% in 2014 is Optimistic

RUSSIA ENERGY / FINANCE - Forecast 20 Dec 2013 by Marcel Salikhov and Leonid Grigoriev
Executive Summary The Russian economy will grow no more than 1.5% in 2013, compared to 3.4% in 2012 and 4.3% in 2011. In 2013, a number of large investment projects were curbed, companies cut back on investment, and domestic demand slowed, all of which contributed to the unimpressive results for the year. Until recently, most forecasts, including the latest outlooks from the IMF, were based on a scenario in which the Russian economy would return to a 3%+ growth range in 2014. An economic rebound in the European Union and the low base effect for investment were suggested to contribute to tha...

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