23 Oct 2015 16:23

Ulyukayev expecting slight growth in consumer demand in 2016

MOSCOW. Oct 23 (Interfax) - Russian Economic Development Minister Alexei Ulyukayev is expecting slight growth in consumer demand in Russia in 2016.

"We are expecting that next year we will have small, but growth in retail trade turnover, growth in consumer demand," he said at the Gaidar Readings.

He said that the growth of material reserves of the companies reflects the expectations of businesses for an increase in consumer demand next year.

It was reported that according to the baseline forecast of the Economic Development Ministry, retail trade turnover in 2015 may fall by about 8.5%, and in 2016 the ministry forecast trade growth of 0.4% with an acceleration growth rates to 2.1% in 2017 and 2.3% in 2018.