MOSCOW, Jan 24 (PRIME) -- An output reduction deal between OPEC and non-OPEC states, lower gas production and a warm weather at the end of the year are responsible for Russia’s industrial output by a modest 1% in 2017, not long-term negative trends in the industry, a spokesperson for the Industry and Trade Ministry said on Wednesday.
The ministry’s forecast for the year amounted to 2%.
The spokesperson said that growth was restricted by a continuing decrease in the metals industry, while there is a growth in other industries.
The ministry has reiterated its 2018 industrial output forecast at 1.5-2%.
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