date:Feb 28, 2013
ear last year to 2% year-on-year in 2013. This will likely reduce real income growth to only 1.5% year-on-year this year, says Natalia Orlova, chief economist with Alfa Bank. In the banking sector, the new provisioning rules effective from March 2013 have already started to lift lending rates and will trigger a slowdown in retail loan growth this year.