Despite the ongoing decline in a number of branches of the economy, there are grounds for optimism in the current economic situation, the Russian President’s spokesman Dmitry Peskov said.

“We will see by the way the situation is changing in the end of the year and next two years whether we have managed to change the trend in development, whether it is growth, decline or stagnation. So far we have some modest reasons for optimism. But we should not exaggerate them,” Peskov said.

When commenting on the macroeconomic forecast until 2035 made by the Economic Development Ministry where it predicts 20 years of stagnation, Peskov said that the Kremlin knows nothing about such a scenario.

“No, we don’t know about it. It is likely that it is some kind of a new document. Indeed the decline in a number of sectors is going on but in some sectors we have managed to enter the trajectory of growth,” he said.