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Russia Slashes 2012 Growth Forecast

The Russian economy is likely to grow at a slower pace than expected earlier, Economic Development Minister Elvira Nabiullina reportedly said Friday.

The ministry has cut the growth forecast for 2012 to 3.4 percent from 3.7 percent, reports said. The outlook was lowered mainly due to a revision in the investment growth forecast, which was cut to 6.6 percent from 7.8 percent.

by RTT Staff Writer

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