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**Mister Belousov has found two reasons for the slowdown in Russia’s economy.**

High interest rates and low profits of companies are the main reasons for the slowdown of the Russian economy. It was announced today at the St. Petersburg International Economic Forum by the presidential aide Andrey Belousov.

“I believe there are two main pressure points. The first one is high interest rates of commercial banks. And the second one is the drop in income and profitability of enterprises and, consequently, the growth of theirs leverage and debt load.
These factors played a key role in economic slowdown”, said mister Belousov in interview to ITAR-TASS.

According to the base-case macroeconomic forecast, the Russian economy will grow in 2014 by 0.5%.

The presidential aide also noted that the Central Bank of the Russian Federation is concerned about the fact that fluctuations of the ruble are leading to interest rates growth.

Mister Belousov also believes that the Bank of Russia could act more decisively in the redevelopment of the banking system.
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High interest rates and low corporate profits are the main reasons for the slowdown of the Russian economy. This was announced today at the St. Petersburg International Economic Forum by presidential aide Andrey Belousov.

“I believe there are two main pressure points. The first one is the high interest rates of commercial banks, and the second one is the drop in income and profitability of enterprises and, consequently, the growth of their leverage and debt load.
These factors played a key role in the economic slowdown”, said Mr Belousov in an interview with ITAR-TASS.

According to the base-case macroeconomic forecast, the Russian economy will grow in 2014 by 0.5%. The presidential aide also noted that the Central Bank of the Russian Federation is concerned that fluctuations inf the ruble are leading to interest rate growth.

Mr Belousov also believes that the Bank of Russia could act more decisively in the redevelopment of the banking system.
Comments  
Thank you kindly, sir :З