As Russia’s economy show signs of improving, its Finance Ministry remains positive on the outlook yet doesn’t expect to let its guard down just yet.
“We see that the Russian economy has started to develop at a higher rate. It has come out of recession this year and we anticipate annual growth of around 2 percent,” Anton Siluanov, finance minister for Russia, told CNBC Tuesday via a translator.
This picture however wasn’t as buoyant back in 2015, when Russia was struggling to get itself out of a recession and was trying to remain steady despite a sharp decline in the oil price. Fast forward and Russia’s economy grew 0.5 percent in the first quarter year-on-year, Reuters reported this month, citing data from the Federal Statistics Service.
In recent weeks however, the nation has been caught up in political noise coming out of Washington, in regards to its relationship with the current U.S. administration. Despite any negative headlines coming out from U.S.-Russia relations, the ministry remains “interested in joint investments and partnership(s) with all our Western colleagues and partners, including with American business.”
Read more at cnbc.com
