Russia faces five years of economic stagnation, the country’s former finance minister warned President Vladimir Putin.
Speaking Tuesday at a round table discussion devoted to the 15th anniversary of Putin’s first presidential election victory in 2000, Alexei Kudrin predicted that Russia’s struggling economy will continue on its downward trajectory.
“We will emerge from the crisis into economic stagnation. Structural reforms were not done in time. This is the most serious challenge facing the president — a stagnating economy at least for the next five years,” he said, according to a report from Russian business news agency, RBC.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.