Russian economy seen expanding 0.7-0.8% in 2014

Moscow

RUSSIA'S economy is likely to grow by 0.7-0.8 per cent in 2014 but next year's 1.2 per cent growth forecast may have to be revised, Economy Minister Alexei Ulyukayev said.

In an interview with German newspaper Frankfurter Allgemeine Zeitung published on Tuesday, Mr Ulyukayev defended Russian economic policy, blaming external factors such as the events over Ukraine for starting what he called an "avalanche".