May 20, 2019 / 11:31 AM / a month ago

Russia c.bank expects economic growth to pick up later this year - official

MOSCOW, May 20 (Reuters) - Russia’s central bank expects economic growth to pick up later this year due to large state investments, First Deputy Governor Ksenia Yudayeva said on Monday.

Economic growth in Russia in the first quarter slowed to its weakest level since late 2017, a phenomenon Yudayeva attributed to an increase in the value-added tax (VAT) this year. (Reporting by Andrey Ostroukh Writing by Gabrielle Tétrault-Farber; Editing by Toby Chopra)

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