PRESS: Russian ministry sees econ revival ’19 via real income cut

MOSCOW, May 10 (PRIME) -- Russia’s Economic Development Ministry has projected a decrease in people’s real disposable income by 2.8% in 2016 and 0.3% in 2017 but it will trigger growth in investments in the economy to 24.1% of gross domestic product (GDP) in 2019 and economic growth, business daily Kommersant reported Tuesday, citing a draft forecast.

The economic revival, in the opinion of ministry’s officials, will be mostly driven by corporate profits, expected to rise 12% in 2018 and 10.8% in 2019.

The poverty will increase to 13.7% of the population in 2017 from 13.1% in 2015 and peak at 13.9% in 2018, but in 2019, it will return to the 2015 level, as expected by the ministry.

End