Kudrin sees Russia’s GDP down 0.6% in 2016, up 0.5–0.8% in 2017

MOSCOW, Oct 4 (PRIME) -- Russia’s gross domestic product (GDP) may fall 0.6% this year but rise 0.5–0.8% next year meaning that recession will be over soon, Alexei Kudrin, a former finance minister and the current head of the Center for Strategic Research, said Tuesday at a business forum.

The Economic Development Ministry expects the economy to contract 0.6% in 2016 and increase 0.8% in 2017.

“Recession will finish soon, we already can see growth…This year the statistical fall will stand at about 0.6%, while next year we will see an about 0.5–0.8% growth. This is not much from the point of view of statistics, but we will stop this fall,” he said.

In five years, the Russian economy will reach growth of 3–4% per year, he added.

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