ST PETERSBURG, Russia, July 1 (Reuters) - Economic growth in Russia is too low and is putting the country in a difficult situation, Central Bank Governor Elvira Nabiullina said on Tuesday.
“Even 1 percent is very little,” Nabiullina said. “This means that the quality of our economic growth will only just be in positive territory.”
The central bank estimates gross domestic product growth at 0.4 percent this year.
“We can revise it up if there are (positive) corresponding signs, indicators, but I do not think that growth in 2014 will be significantly higher (than 0.4 percent), in my view it will be within the limit of 1 percent.” (Reporting by Lidia Kelly and Oksana Kobzeva; Writing by Lidia Kelly, editing by Elizabeth Piper)