MOSCOW TIME: 16.05.2021 19:25:35


Russian Economy Ministry expects investments growth to decline in 2019

Russian Economy Ministry expects investments growth to decline in 2019

Equity investments growth are expected to decline from 3.5% in 2018 to 3.1% in 2019 with further acceleration to 7.6% in 2020.

Investments are expected to grow by 6.9% in 2021 and will be at the level of 6.4% per year in 2022-2024.

TheRussian Ministry of Economic Developmentexpects that Russia’s industrial production growth will be 2.5% in 2018, 2.1% in 2019, 2.6% in 2020, 2.9% in 2021, speeding up to the level above 3% in 2022-2024.

The average ruble rate will be 60.8 rubles per dollar and the ruble rate will remain close to current levels by 2018 year-end, the Russian Ministry of Economic Development said.

"The Russian Ministry of Economic Development expects that the ruble rate will remain close to current levels until 2018 year-end. The ruble rate is forecast to be 60.8 rubles per dollar on average in 2018 subject to values in the first half of 2018," the Ministry said.

The growth rate of real salaries of Russians will decline from 6.3% in 2018 to 0.8% in 2019 due to accelerated inflation and the high base, the Ministry reports.

"The decline of actual rates of salary growth is expected in 2019, primarily due to a high benchmarking base formed in 2018," it says.

Inflation acceleration will also adversely affect the dynamics of salaries growth and the purchasing power. "As a result, the growth rate of actual salaries will decline from expected 6.3% in 2018 to less than 1% in 2019, while the actual growth of households final consumption expenses will decline from 3.5% year-on-year in this year to 2.6% year-on-year in 2019," the Ministry notes.


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