Economy ministry says cuts 2018 GDP growth outlook to 1.8% from 1.9% - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Economy ministry says cuts 2018 GDP growth outlook to 1.8% from 1.9%

MOSCOW, Sep 5 (PRIME) -- Russias Economic Development Ministry has reduced the 2018 gross domestic product (GDP) growth to 1.8% from 1.9% and for 2019 to 1.3% from 1.4%, according to a report published on Wednesday.

The GDP rise in JanuaryJuly is estimated at 1.7% and in July at 1.8% on the year after 1.1% on the year in June.

Recovery of the manufacturing sector after temporary negative factors have faded contributed to a quicker GDP expansion.

The ministry said it changed the outlook for 2019 due to a moderately strict monetary policy by the central bank and a shift of an active stage of national projects towards JuneJuly with the tax burden rising from January 1.

The Urals oil blend average price forecast for 2018 was raised to $69.6 per barrel from $69.3 per barrel. The 2019 forecast is $63.4 per barrel on the back of a fast rise of production in the U.S. and a gradual rise in OPEC and Russia. The Urals price is to fall to $59.7 in 2020 and to $53.5 in 2024.

The ruble rate against the U.S. dollar can return to 6364 in JulyDecember 2019 and will continue to weaken gradually after that.

Investments growth forecast for 2018 was reduced to 2.9% from 3.5%, as the figure fell to 2.8% on the year in AprilJune after 3.6% in JanuaryMarch.

The net capital outflow forecast rose to $41 billion from $18 billion.

The ministry also said that it sees no reason to revise the long-term development trends.

End

05.09.2018 15:29
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 75.5541 +0.0060 23 jan
USD 66.5499 +0.1865 23 jan
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1169.79 -0.11 18:50 22 jan
micex 2468.73 +0.02 18:50 22 jan
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 158.50 +0.13 18:49 22 jan
lkoh 5186.00 -0.27 18:48 22 jan
rosn 416.90 -1.28 18:49 22 jan
sber 207.95 +0.38 18:49 22 jan
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 75.4950 -0.0150 14:59 22 jan
USDTD 66.4150 +0.0925 17:44 22 jan