Min: Russia’s GDP may grow above 1.3% forecast in 2019, not less

MOSCOW, Nov 25 (PRIME) -- Russia’s gross domestic product (GDP) growth will not be below the projected 1.3% in 2019 and could be even higher, Finance Minister Anton Siluanov said Monday at the Federation Council, the parliament’s upper house.

“As for growth rates, we see that the dynamics of economic growth are growing. In October, we saw growth rates for 10 months of 2.2% already. Let’s see how stable this trend is, but nevertheless, national projects are starting to work, measures that we’ve taken to stimulate economic growth are starting to work, and we are sure that the dynamics of economic growth this year will not be lower, possibly higher than we predicted,” Siluanov said.

The government’s official forecast encompasses GDP growth of 1.3% in 2019.

Siluanov also said that actual inflation is expected to be below the forecast which was lowered to 3.8% from 4.3%.

“In fact, it will be even lower. This allows us, with the indexations we made, and we made the indexations at higher inflation rates, respectively, to increase costs in real terms,” he said.

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