Ministry: Fixed capital invest in Russian industry may rise 2017

MOSCOW, Dec 22 (PRIME) -- Fixed capital investment in Russian industry are expected to grow in 2017, if no macroeconomic shocks occur, First Deputy Industry and Trade Minister Gleb Nikitin told PRIME on Thursday.

“I think we will certainly see growth of fixed capital investment if we fend off any shock changes of the macroeconomic environment, although investment is expected to fall 0.5% in 2017 under a basic forecast of the Economic Development Ministry,” Nikitin said.

The Industry and Trade Ministry forecasts that the average annual investment growth in the processing industry, except oil refining, will amount to about 3% in 2017–2019, with the growth led by the chemicals sector which is proactively seeking for import substitution, he said.

“Talking about specific branches, then for instance agricultural machinery, car, car component, tool, energy and oil and gas machinery production will certainly see growth,” Nikitin said.

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