Russia Growth to Continue

The Russian economy is expected to have long-term growth, Minister of Economic Development Maxim Oreshkin said on Wednesday, Tass reported. “The foundation of changes in the last two years (in the Russian economy) is very strong. According to our estimates, it will make possible long-term economic growth in coming years,” the minister said. “Two challenging years have passed associated with adjustment to oil price plunge, while now the (Russian) economy is at a unique point. Looking ahead into its structure and the state of markets it may be noted that there are no structural imbalances or excesses in store for particular segments of the Russian economy,” he said ahead of the opening of the 4th China-Russia Expo on Wednesday. Speaking about the upcoming event, the minister said that the beginning of this year has marked a surge in trade turnover between Russia and China, which among other things will set the stage for a new economic growth phase in Russia.