Equity Investment Growth in Russia to Decline Next Year: Economy Ministry

The Russian Ministry of Economic Development said on Wednesday it expects equity investment growth in the country to decline from 3.5% in 2018 to 3.1% in 2019 with further acceleration to 7.6% in 2020, TASS reports.

Investments are expected to grow by 6.9% in 2021 and will be at the level of 6.4% per year in 2022-2024. The Ministry expects that Russia’s industrial production growth will be 2.5% in 2018, 2.1% in 2019, 2.6% in 2020, 2.9% in 2021, speeding up to the level above 3% in 2022-2024.

The average ruble rate will be 60.8 rubles per dollar and the ruble rate will remain close to current levels by 2018 year-end, the Ministry said.

“The Ministry of Economic Development expects that the ruble rate will remain close to current levels until 2018 year-end. The ruble rate is forecast to be 60.8 rubles per dollar on average in 2018 subject to values in the first half of 2018,” the Ministry said.

It added that it expects the ruble rate to decline gradually to 63.2 rubles per dollar in 2019, 63.8 rubles per dollar in 2020, and 64 rubles per dollar in 2021.