Official sees high risks of slower econ growth in Russia early ‘13

MOSCOW, Nov 27 (PRIME) -- Risks of slower economic growth will remain high in Russia at the end of 2012 and the beginning of 2013, Deputy Economic Development Minister Andrei Klepach said on Tuesday.

“A more urgent problem now is the problem of economic growth,” Klepach said when asked about the balance between risks of economic slowdown and inflation.

He also said that a reduction of the refinancing rate by the central bank will not significantly spur growth. In early November, the Central Bank of Russia kept the refinancing rate unchanged at 8.25%.

Inflation risks will also remain in the beginning of 2013. “But so far they are under control (and will remain so) if there is no further growth in world food prices,” Klepach.

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