Russia sees first growth in two years as economy stabilises

Russia sees first growth in two years as economy stabilises: HumSub.TV

Russia sees first growth in two years as economy stabilises: HumSub.TV: Russia’s economy expanded for the first time in two years in the fourth quarter of 2016, data from the state statistics service showed Friday, as it slowly recovers from a crippling crisis.

The country recorded 0.3 percent growth in gross domestic product year-on-year, Rosstat said, as Moscow pulls itself out of a two-year economic crisis triggered by tumbling oil prices and Western sanctions over Ukraine.

Rosstat said that Russia’s GDP had contracted 0.2 percent overall last year, after having shrank 2.8 percent in 2015.

The Russian government expects 0.6 percent growth this year, while economy minister Maxim Oreshkin has said that growth could even reach two percent.

William Jackson, Senior Emerging Markets Economist at Capital Economics, said that the return to positive growth had been “driven by stronger inventory investment and a shallower fall in consumer spending.”

Jackson forecast that Russia’s GDP growth would reach 1.5 percent this year and 2.3 percent in 2018, figures higher than most analysts expect.

Last week Russia’s central bank cut its key rate for the first time in six months amid falling inflation and said it was considering further cuts.

A number of key indicators have improved recently, especially inflation, which is now approaching the central bank’s four-percent target for this year.

The bank said Friday that low inflation and a return to GDP growth had seen real wages increase.

It also noted that investments in the first quarter of 2017 have grown “one-to-three percent” year-on-year in light of the “expected recovery of demand” and a “decrease in macroeconomic uncertainty,” among other factors.

Standard and Poor’s agency this month raised its outlook for Russia’s credit rating to “positive” from “stable”, citing improving growth prospects and a lower risk of large capital outflows.

The agency said it expected Russia to resume positive growth this year, “averaging about 1.7 percent in 2017-2020.”

It said that the “relatively low oil prices, structural impediments and sanctions” will however continue to hinder a rebound in GDP, which it expects will increase by 1.5 percent this year.

S&P said it considered that the Russian banking sector remained fragile but that it saw “some early signs of stabilisation.” Analysts from the Analytical Credit Rating Agency (ACRA), Russia’s own rating agency launched in 2015, meanwhile said this week they expected Russia’s GDP to cap at “1.0-1.5 percent over the next five years.”

Russia’s economy has appeared to stabilise over the last few months after a recession that has diminished people’s purchasing power and pushed large segments of the population into poverty.

The ruble — battered by falling oil prices and Western sanctions in 2014 and 2015 — has risen dramatically in recent months and last month strengthened to fewer than 60 rubles to the euro for the first time since June 2015 as oil prices recovered.

Russia sees first growth in two years as economy stabilises: HumSub.TV

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HumSub TV is the first channel and thus a pioneer within its own right that mainly focuses on emphasising the “Rights” as well as the “Obligations” of the citizens in light of the Constitution of Pakistan, numerous International declarations signed by the Government and various laws that have been promulgated over the years but are not in the knowledge of the common citizen.
HumSub TV also aims to enter into bilateral agreements with other countries to promote not only their culture, heritage and tourism, but also their educational and medical facilities.
Following the successful launch of HumSub TV’s head office in Blue Area, Islamabad; the bureau office has been set up in Lahore.

To project positive image building of Pakistan and inculcate nationalism, as per the vision of the founder of the nation, Quaid-e-Azam Mohammad Ali Jinnah.

HumSub TV is resolute about the promotion of a pluralistic, inclusive and egalitarian society in Pakistan where all citizens are allowed to contribute to promote interfaith harmony, peace and collective wisdom in the social, political and economic development of Pakistan and to encourage critical and lateral thinking in the society. HumSub TV strives to make a positive contribution to this end.

HumSub TV’s Theme
HumSub TV, Pakistan’s first EDUTAINMENT Channel, has been set up for not only those audience residing in Pakistan or overseas but the international community on the whole. The vision of the channel is to project positive image building of Pakistan and inculcate nationalism as per the vision of the founder of the nation.

HumSub TV strives to make a positive contribution to this end by promoting pluralism, inclusiveness and egality in Pakistan and give voice to the suppressed. It endeavors to act as a positive catalyst for social change and Pakistani nationalism. It envisions providing a platform for airing critical and lateral thinking and collective wisdom by inviting positive minded intellectuals and opinion forming individuals for the promotion of interfaith harmony and peace in the social, political and economic development of Pakistan.

Whereas the channel airs upbeat edutainment programmes, it, nonetheless, has the primary objective of countering negative anti-Pakistan regional and international propaganda as well as advancing fundamental rights as encapsulated in the Constitution of Pakistan.

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