Econ minister: Russia’s agricultural output may fall in 2018

MOSCOW, Oct 25 (PRIME) -- Russia’s output of agricultural products may fall in 2018 for the first time since 2012 instead of a forecasted 1.1% growth, Economic Development Minister Maxim Oreshkin told reporters on Thursday.

“The situation in the plant growing sector, a bad harvest may lead to unfavorable results in agriculture. Third quarters are usually the major turning point that defines everything that happens with our agriculture,” he said.

“This will also have a negative impact on GDP (gross domestic product), but we will look at GDP dynamics later. We don’t plan changes to the forecast so far,” he said.

The Economic Development Ministry expects Russia’s GDP to rise 1.8% in 2018.

Data of the Federal State Statistics Service showed Russia’s agricultural output plunging 11.3% on the year in August and 6% on the year in September.

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