Finance minister: Russia upgrades GDP outlook for 2020 to 1.9%

MOSCOW, Feb 13 (PRIME) -- The Russian government has upgraded its 2020 economic growth outlook to 1.9% from 1.7%, Finance Minister Anton Siluanov said on Thursday at a government meeting.

“Dynamics of real disposable incomes of citizens will improve as compared with the trajectory that was taken into account in the previous forecast,” he said.

“The forecast for consumer demand was also revised and improved. This is why taking into account the impact on the economy, we recalculated the economic development forecast this year to 1.9% from 1.7%.”

In 2019, Russia’s GDP increased by 1.3%.

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