This year is shaping up to be a much better one for the Russian Federation. Following back-to-back years of economic recession and much of the Western world putting its leader, Vladimir Putin, in the dog house because of his apparent actions in Ukraine and his support for Bashar Assad in Syria, Russia is ready to make a comeback. This might not be entirely translatable in its stock market however, which is already up over 40% year-to-date.
Russian Ministry of Economic Development revised its outlook for industrial production in 2016 to 1% compared to the previous 0.4%. In November, national statistics firm Rosstat said industrial production in the first 11 months of 2016 rose 0.8% from 2015 and 2.7% compared to the same month a year ago. IP also rose around 1% from October levels.
Russia’s Finance Minister Anton Siluanov said in the local press that the economy could surprise next year by accelerating growth…
View original post 587 more words