Support The Moscow Times!

Dvorkovich Sees 4% Economic Growth Next Year

Deputy Prime Minister Arkady Dvorkovich on Friday said the country's economy could accelerate to a growth rate of 4 percent next year, in stark contrast to the dour expectations of the Economic Development Ministry.

The ministry sees the Russian economy struggling to rise above 3 percent growth for the next two decades.

The measures that the government is implementing for an economic rebound could start to bear fruit next year, Dvorkovich said at the annual Krasnoyarsk Economic Forum.

The measures include providing greater access to state contracts to small and medium-sized businesses; and creating a state fund that would guarantee loans for this type of businesses.

Former Finance Minister Alexei Kudrin disagreed, saying that the growth rate would hover around 1.5 percent if the government went on with its plans to splurge money on defense contracts, instead of investing in roads and education.

He branded the government a 'weak partner' for ensuring an increased economic growth.

Read more