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Russian government hopes to ‘survive’ until 2018 and see 5% economic growth

The target prediction of the Russian government is the economic growth of 5% in 2018. This was stated by Minister of Economic Development of Russia Alexey Ulyukayev.

Russian government hopes to "survive" until 2018 and see 5% economic growth

Ulyukayev said that the target version of economic growth meant having the economic growth of 4% in 2017 and 5% in 2018, Joinfo.ua reports with reference to the Russian media.

"Target forecast is the rate of economic growth, higher than the average one, it is the rate of productivity growth and rise of income, maintenance of macroeconomic balance and low inflation – 4% by 2018," he said.

Earlier, experts expressed the opinion that because of the long-standing and irrelevant approaches to economic development, Russia had faced a serious crisis.

Previously, we reported that the Russian economy has fallen to the "junk" credit rating level according to the Fitch Ratings agency. It is expected that the same thing will happen with the results of the Standard & Poor's agency.