Russia’s economy grew at the weakest pace since 2009 in the first quarter as the euro area’s longest recession hurt demand for commodity exports and investment at companies including OAO Gazprom cooled.
Russia’s economy probably grew at the weakest pace since 2009 in the first quarter as investment at companies including OAO Gazprom cooled and the euro area’s longest recession hurt demand for commodity exports.
Russia’s government is split over charging the central bank to support the economy as part of efforts to revive growth, leaving President Vladimir Putin to decide, according to an official familiar with the proposals.
OAO Russian Railways changed its 2013 cargo forecast to a decline after volumes fell for five months and the Economy Ministry lowered its industrial output target for the year, two people with knowledge of the matter said.
Russian President Vladimir Putin urged the government to come up with a plan to revive the flagging economy after a minister warned that a recession is possible as companies cut investment and export demand wanes.