US banking giant Bank of America Corp. (BofA), analyzing the data on Russian corporate profits, says signs of the Russian economy recovery, reported Bloomberg citing a report on the Moscow Office bank’s Chief Economist Vladimir Osakovsky.
The slowdown in investment reduced, corporate income increases — these factors, according to Osakovsky, may signal the onset of a turning point for the Russian economy.
«The profit of Russian corporations since the beginning of the year is pretty good so far, we see a steady growth in corporate earnings as the main potential incentive of stabilization and recovery (of the economy) in the near future» — said Osakovsky.
The economist also expects positive dynamics of macroeconomic indicators.
«We may see that the main macroeconomic indicators will be improved this year compared with the previous year, but obviously we will have to wait for an increase the volume of corporate profits into the growth of investments», — added Osakovsky.
According to the agency, corporate profits increased by 43% in the first half of 2015 compared with the previous year and 38% in the period from January to July this year. This means that soon companies are likely be able to consider the possibility of using the capital to expand, explains Osakovsky.