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Russia's banking system shows signs of recovery - Standard&Poor's

Tags: economic recovery, economy, Business, News, Russia
 
Mar 17, 2010 21:04 Moscow Time
Money. Collage:The Voice of Russia
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Russia’s banking system is showing clear signs of recovery. According to “Standard & Poor’s” analysts, the days of purely pessimistic forecasts are gone as the recent data on the GDP growth stimulate the Russian banking sector and give grounds for optimism. The Agency’s senior analyst Yekaterina Trofimova says this year’s GDP growth in Russia is forecast at 3.5 percent, less than the Russian ministries. She points out an unprecedented drop in inflation in recent months but argues that Russia’s economy continues to be dependent on oil and gas prices.

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