Russian Economic Development Ministry expects 1.5% investment decline in 2016
SOCHI. Oct 3 (Interfax) - The Russian Economic Development Ministry anticipates that capital spending (capex) will continue to decline in 2016 due to its reduction on the part of state-run companies and monopolies, Economic Development Minister Alexei Ulyukayev told reporters on the sidelines of the Sochi-2015 investment forum.
The ministry believes that investment may decline by 1.5% next year.
The ministry will submit its more detailed forecast to the Russian government on Monday, Ulyukayev said.
"We do not expect a rebound in investment next year. Rather, our forecast anticipates a 1.5% decline primarily due to a reduction of state investment by state-run companies and monopolies, an area that will see an even stronger minus. We expect the dynamics at around zero as far as private investment is concerned," the minister said.
