1 Min Read
MOSCOW, March 24 (Reuters) - Russian economic indicators show signs of recovery, which may push gross domestic product higher by 0.4-0.7 percent on the year in the first quarter of 2017, the central bank said on Friday.
After a prolonged period of contraction, capital investment, which is considered to be one of the key economic drivers, may increase by 1-3 percent in the first three months of this year compared with a year ago, the central bank said.
In a revised set of economic forecasts, which the central bank presented after cutting the key rate to 9.75 percent, it said a price of barrel of crude oil was expected to average $50 this year and $40 in 2018 and 2019. (Reporting by Andrey Ostroukh; Editing by Polina Devitt)