Russia’s economic growth will accelerate in 2017 provided that no new external shocks arise, Central Bank First Deputy Chairperson Ksenia Yudaeva said.

“The economy started shifting to quarterly growth already at the end of last year. This year the growth may only accelerate if no new external shocks arise. That is why the problem the Russian economy is facing now is not how to shift to recovery growth, but how not to drift again into low economic growth rates, fundamentally to a chronic stagnation, amid new environment,” she said.

Earlier Economic Development Minister Maksim Oreshkin said Russia’s GDP could demonstrate a 2% rise year-on-year in the second half of this year.

Finance Minister has upgraded GDP growth outlook for 2017 from 0.6% to 1-1.5%.