Economic Development Min: Russian GDP may fall 1.5% in Jan–Mar

MOSCOW, Mar 25 (PRIME) -- The Russian gross domestic product (GDP) may fall by 1.5% in January–March, Economic Development Minister Alexei Ulyukayev told reporters on Wednesday.

GDP fell by 1.5% in January–February, he said.

“Our quarterly estimate – we are still in a 1.5% fall range. This is an estimate for January–February,” Ulyukayev said.

Although the Russian economy still remains in a difficult financial situation, inflation has already passed its peak and the ruble is strengthening, Ulyukayev said.

“The situation in the economy remains difficult, tense, but significant markers of stabilization have outlined,” he said.

He said that maximum exchange rate fluctuations are also in the past and the ruble is trying to find a new balance.

End