Support The Moscow Times!

Kudrin Expects GDP to Dip

Former Finance Minister Alexei Kudrin believes a 3 to 4 percent decline in the country’s economy in 2013 is very likely, even though the authorities expect gross domestic product to increase next year by 3.8 percent.

Kudrin said it would be necessary to tap special support packets for the economy only if GDP fell by over 3 to 4 percent in annual terms. Kudrin said a 3 to 4 percent decrease in GDP would not be “critical.” “This is an unavoidable development during a cyclical crisis,” he said.

(MT)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.