The Ministry of Finance of the Russian Federation: sectoral punishment will slow the growth of Russian GDP is at 0, 2-0, 3 PP

The introduction of sanctions against entire sectors of the Russian economy may slow GDP growth to 0, 2-0, 3 percentage points in 2014, but Russia has enough reserves to compensate for the most part of losses in mid-term perspective, according to the Ministry of Finance of the Russian Federation.

After the referendum in the Crimea, during which the inhabitants of the Peninsula voted for his entry into Russia, the U.S. and EU imposed sanctions against Residents of the Russian Federation. While the West has warned that does not step back from the possible introduction of sanctions concerning sectors of the Russian economy in case of escalation of the fall in Ukraine.

" in the short to medium term Russia has enough reserves to compensate for the most part, the possible economic losses associated with penalties at the same time, the escalation of tensions could reduce GDP Growth to 0, 2-0, 3% in 2014 ", - reported in the main directions of budget policy in 2015-2017 years, published on the Internet representative office of the Ministry of Finance. The Ministry of economic development forecasts that this year the economy will grow by 0, 5%.

" in the longer term of punishment have the opportunity to have a significant impact on the reduction of budget stability, as well as the deterioration of the terms and reduction of the opportunities for upgrading In limiting the import of technology, investment and best practices ", - believe the officials.

the document notes that the scenario of the forecast of socio-economic development of the Russian Federation, which formed the basis for budget planning, assumes in relation stable rules, Under which large-scale economic penalties to Russia do not apply, and allows for the reduction of the foreign policy of tension in the 2nd part 2014 and the resumption of growth of investment in fixed capital.

" Introduction of sanctions concerning certain sectors of the Russian economy increases the possibility of bringing to a deterioration of their financial wealth, borrowing conditions, increase in risk premiums and increased capital outflows. This increases the possibility of bringing to a further weakening of the exchange rate, inflation and deteriorating consumer confidence, " stresses the Ministry of Finance.


sections: Politics