Medvedev: Economy may slip into deep recession in 2015

MOSCOW, Dec 23 (PRIME) -- The Russian economy may slip into a deep recession in 2015 and that must be taken into account when setting tasks, Prime Minister Dmitry Medvedev said on Tuesday.

“If we set more modest tasks, we are faced with risks to falling into a deeper recession,” he told the ruling United Russia party.

The current economic situation in Russia requires extremely precise and balanced decisions, Medvedev said.

“The situation in the economy requires extremely precise decisions, balanced decisions,” he said, adding that Russia’s economic development must be focused on “normal growth”.

The government must make special and concrete decisions on a range of issues, to shift to a “manual mode”, as it was in 2008–2009, Medvedev said.

“We have to react operatively on many difficulties and in larger extent to shift to a “manual mode” concerning many issues… We already made it with the government in 2008–2009,” he said adding that there is a need to resort to special measures which were used then.

In November, Economic Development Minister Alexei Ulyukayev said Russia’s gross domestic product) growth may amount to 0.7–0.8% in 2014 and that the country may avoid recession in 2015.

End