Russia's GDP to grow at least by 3.3 percent in 2013 - Russian Deputy Economy Minister
Russia's GDP will grow 3.3 percent in the worst-case scenario this year, Russian Deputy Economy Minister Andrei Klepach said at the Winter Grain Conference in Belokurikha on Thursday.
"We're in a situation where the pace of economic growth in Russia is slowing," he said. "If we have been growing something like 4 percent in recent years following the crisis, this was 2 percent at the end of last year and early this year, or even less. And although we expect the tendency to alter and GDP to grow in the second half of the year, this means we'll be approaching 3.3 percent. The World Bank has just given the same forecast."
"Even so, although there are major arguments among economists about what our potential for growth is, we work on the basis that we do have the potential for accelerated growth. This is an imperative. Because 3 percent growth is when there are no major qualitative changes taking place in the economy. This is growth based on the fact that our fuel and energy sector is growing approximately 1-1.5 percent a year," Klepach said.
He said economic growth drivers included hi-tech and innovation sectors, among them the aircraft industry.