Russia's economy ministry predicts growth slowdown in 2019

12 Feb 2019

Russia's economy ministry predicts growth slowdown in 2019

MOSCOW Russia's economic growth of 2.3 percent in 2018 was largely boosted by one-off factors and is not sustainable, the economy ministry said on Tuesday, predicting the pace would slow to 1.3 percent in 2019.

The ministry also said in a monthly report that it expected annual consumer inflation to pick up to 5.2-5.4 percent in February, and peak at 5.5-5.7 percent in the period from March to May.

Inflation will slow below 5 percent by the end of the year should the rouble exchange rate remain steady, the ministry said.

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