Russia dismisses influential VEB.RF chief economist over gloomy forecasts

Andrei Klepach, chief economist of Russia's state development corporation VEB.RF, has been removed from his position, according to a Sunday report by the outlet The Bell, which cited two sources.

The dismissal reportedly followed public statements by Klepach in which he offered less than encouraging forecasts about the future direction of Russia's economy. The source article does not specify the exact content of his remarks or further details surrounding the circumstances of his dismissal.

VEB.RF is one of Russia's major state development institutions, involved in financing strategic economic projects and shaping national economic policy. The removal of an official at this level following publicly voiced cautious or critical economic forecasts points to how sensitive Russian authorities remain toward open discussion of the country's economic condition.

The report does not indicate who might succeed Klepach in the role or whether further leadership changes at the corporation are expected to follow.