The economic growth may begin in the coming quarters, but it is likely to be significant.
"Even if Russia withstood the most difficult period of the economic crisis, its economic growth is yet to come," Wirtschaftsblatt wrote. "Only at first glance it seems that the economic crisis that started in Russia in 2015, will soon be over."
According to official data, Russia's GDP fell by only 1.2% compared to 3.8% in the first three months of 2016 while the gross investments increased by 8.2% for the first time over the last three years.
On the other hand, the gross savings declined by 9.9% in the first quarter of 2016. The export also doesn't expect any significant changes, showing significant slowdown in the first three months of 2016.
At the same time, German newspaper Die Welt noted that direct investments of the German companies in the Russian market reached a historical level that was previously surpassed only during the economic boom in 2006-2008 and 2010.
According to the Bundesbank, the investments reached 1.78 billion euros despite anti-Russia sanctions and their influence on economic relations between the two countries.
"This clearly shows that confidence in the positive development of the Russian economy and the hope for a speedy resolution to the political crisis is coming back," economic expert Michael Harms said cited by the newspaper.
Russia has repeatedly refuted the allegations, warning that the Western sanctions are counterproductive and undermine global stability. Both Russian and European entrepreneurs repeatedly criticized the sanctions and stressed their negative impact on the economies of both Russia and the EU.
