Minister says Russian retail sales can recover in 2017

SOCHI, Oct 3 (PRIME) – Russian retail sales are not expected to see a significant positive dynamics in 2016 but will likely recover in 2017, Industry and Trade Minister Denis Manturov told reporters on October 1.

“We will unlikely see significant positive dynamics (of retail sales) year-on-year in 2016 but there is a feeling of some recovery. This is why let’s see how the situation will unfold in the fourth quarter. But a rebound will most likely happen in 2017,” Manturov said.

In 2015, the retail outlets’ turnover fell 10% and in January–August 2016, it declined further by 5.7% on the year.

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