Econ ministry raises 2017 GDP growth forecast to 2.1% from 2%

MOSCOW, Aug 31 (PRIME) -- The Economic Development Ministry has improved its forecast for the growth of Russia’s gross domestic product (GDP) in 2017 to 2.1% from 2%, Minister Maxim Oreshkin said on Thursday presenting the adjusted economic development forecast of the ministry.

“We have revised the GDP growth estimate for 2017 and improved it to 2.1%,” he said.

The ministry also raised its GDP increase estimates for 2018 to 2.1%, for 2019 to 2.2%, and for 2020 to 2.3% from 1.5% previously expected in all the three years. Oreshkin said that the new estimates are based on an expected increase in investment activity.

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