In the second half of 2013 the economy is expected to revive

Associate Professor of the International Institute of Public Administration and Management (RANHiGS) under the President of the Russian Federation, Igor Moskalyov, commented on the current state of the economy and predicted a slight rise to occur in the second half of 2013. According to him, even a small increase in activity will not help overcome the stagnation into which the Russian economy has plunged recently. The expert noted that the development of non-oil industries is a strategic task of the state in the long term, but in the present circumstances the appearance of a serious alternative to the oil and gas sector is unlikely. Speaking of the republics of the North Caucasus, Igor Moskalyov stressed the importance of the project of the Sochi Olympics as a powerful factor in the development of the regional economy.