economy

Russian economy is on the way to stable growth - Christine Lagarde

Russian economy is on the way to stable growth

The managing director of the International Monetary Fund (IMF) Christine Lagarde said Russia has done a good job maintaining macroeconomic stability given declining crude prices.

“Against the backdrop of falling oil prices, Russia had proceeded to, or would precede, she hopes, on the track of sustainable growth,” Russian Deputy Minister of Economic Development Stanislav Voskresensky quoted Lagarde after the APEC leaders’ meeting with the IMF managing director.

Russian economy returns to growth

Russian economy returns to growth

After a deep decline, Western companies start increasing investments in Russia, according to Bloomberg.

World famous corporations such as Ikea and Leroy Merlin invest billions of dollars into factories and outlets they plan to built in Russia. Earlier this year Ikea already opened a factory in Nizhny Novgorod investing 60 million dollars.