Report: VEB Deputy CEO sees 2016 Russia ñapital invest fall at 5%

SOCHI, Oct 3 (PRIME) – Russian capital investment can decline by 5% in 2016, Deputy CEO of Vnesheconombank (VEB) Andrei Klepach told channel Rossiya 24 in an interview on October 1.

“We are witnessing an investment decline now. It was quite tough last year, there are no final results for this year yet but I think that the fall in investment will amount to about 5%, or 5% and something. Two years in a row in fact, including stagnation before that, we have a three-year investment fall,” Klepach said.

Fixed capital investment amounted to 5.3 trillion rubles in January–June 2016, falling 4.3% on the year, according to data of the Federal State Statistics Service.

In 2015, investment declined by 8.4%.

Klepach also said that he forecasts a 5.5–5.8% inflation in 2016.

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