Employment opportunities could be generated in Russia with a new outlook for the country predicting strong recovery during 2011-12.

According to Baring Asset Management, the state "will become an increasingly attractive market to investors over the next 18 months", with the pace of economic growth expected to escalate and consumer spending expanding as a result of improving loan availability.

The international investment specialist noted that the recovery in Russia late in the cycle will make the nation resilient to future shocks, while social spending is anticipated to rise ahead of the parliamentary and presidential elections, which could provide new jobs.

Manager of the Baring Russia Fund Matthias Siller forecast: "Aggressive fiscal loosening will also put more money in people's pockets and boost consumer confidence, supporting growth."

Recent data from Markit Economics and HSBC suggested that the Russian services sector saw employment growth continue during June 2011, although the pace of job creation slowed slightly from the previous month.

Posted by Lee Thrace