World Economy

Russia Economic Difficulties to Persist

Russia Economic Difficulties to PersistRussia Economic Difficulties to Persist

Difficult economic conditions will persist in Russia for three more years, the authorities need to have coordinated macroeconomic policies, the Russian Central Bank said in a statement Wednesday, Sputnik reported. “Overall, as is expected, the conditions of development of the Russian economy will remain difficult within the framework of the three-year prognosis period. Taking this into account, it will be extremely important to retain consistent and coherent macroeconomic policies directed at ensuring stability and forming conditions for restoration of balanced demand.” Meanwhile, the central bank also said it’s in no rush to reach the target of $500 billion in international reserves as the monetary authority forecast the stockpile staying largely unchanged in the next three years.