September 12, 2019 / 7:46 AM / 2 months ago

Russia rules out recession despite economic slowdown

FILE PHOTO: Russian Deputy Finance Minister Vladimir Kolychev speaks during an interview at the Reuters Russia Investment Summit in Moscow, Russia September 21, 2017. REUTERS/Grigory Dukor

MOSCOW (Reuters) - Russian Deputy Finance Minister Vladimir Kolychev said on Thursday that there was no question of the economy going into recession despite a slowdown in economic growth.

The central bank last week lowered its 2019 economic growth projection to 0.8%-1.3% from an earlier forecast of 1.0%-1.5%.

Reporting by Katya Golubkova; writing Maria Tsvetkova; editing by Maria Kiselyova

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