June investment slowdown troubling, but GDP growth forecast unchanged - Ulyukayev
KALUGA. July 23 (Interfax) - Russian Economic Development Minister Alexei Ulyukayev considers the 2.4% slump in investments in fixed capital in June, factoring in seasonal and calendar factors, is a worrisome sign, but there is an improvement trend and the 2.4% GDP growth forecast is not changing.
"Generally, of course, the sign is troubling," Ulyukayev told the press on Tuesday. "I'm confident that the trend - the second [quarter] was better than the first - will continue. In the third we will move to a figure more than 1.9% [GDP growth in Q2], likely around 2%," he said, adding that in his view the economy will "fit in" the GDP forecast for 2013.
Ulyukayev also said that right now the Russian economy is undergoing an output break, meaning that the actual output is smaller than its potential.
"The potential for [economic] growth is bigger