Russia's MTS says sales growth could slow as consumer demand weakens
MOSCOW Feb 4 (Reuters) - Russia's biggest mobile phone operator MTS said on Tuesday its sales growth could slow in the next three years as economic slowdown in the country may affect consumer demand.
The company expects sales to rise by 3-5 percent a year in 2014-2016, compared to a targeted growth of around 5 percent in 2013, chief executive officer Andrei Dubovskov told reporters.
MTS cited a possible fall of revenues from voice calls amid a broader decline in economic activity and lower roaming revenues as cash-strapped consumers are expected to travel less. It also said sales of smartphones could fall as incomes are expected to decline and the cost of consumer credit may rise.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.