Russia's gross domestic product stopped at +1,3% in 2013. It is the lowest level since the collapse of 2009, even if it is an initial estimate, released by the Moscow-based statistical agency Rosstat. But the figure confirms the decline in recent years: from +4,3% in 2011 to +3,4% in 2012.
A clear step back from analysts' estimates. According to reports from the Interfax news agency, they had forecast growth of +3,6%.
Economic Development Minister Alexei Ulyukayev stresses that “the pace of growth is in no way satisfactory. The recession of many trading partners and scarce internal investments are weighing heavily”. Already in December Ulyukayev had expressed concern about the stagnation going through Russia, which risks continuing for the next few years as well.
At 15.30 the Ruble was down by -0.11% with a value against the Euro of 47,7482
