Min: Russian econ deteriorates Nov, 2015 GDP to fall 3.7–3.8%

NAIROBI, Dec 18 (PRIME) -- The economic situation in Russia deteriorated in November due to another wave of oil price decrease, Economic Development Minister Alexei Ulyukayev told reporters Friday, and he said that his personal forecast for the gross domestic product (GDP) decrease for 2015 is 3.7–3.8%.

“The situation has unfortunately slightly spoiled, and that trend which we used to have since July for four months, until October, it was not confirmed in November. We have a small negative result both in industrial output and in GDP cleared of the seasonal factor,” the minister said.

The GDP shrank about 3.7% year-on-year both in October and in November, he said.

The ministry’s official GDP decrease forecast for 2015 stands at 3.9%.

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