Ministry: Russia’s GDP to fall 0.2%, invest to shrink 3.1% 2016

MOSCOW, Apr 29 (PRIME) -- The Russian government approved in general three economic forecasts lasting until 2019, where the basic plan envisages a 0.2% gross domestic product (GDP) contraction and a 3.1% investment decline in 2016.

The basic forecast assumes that the average oil price will stand at U.S. $40 in 2017–2019. The economy will rise 0.8% in 2017, 1.8% in 2018 and 2.2% in 2019.

Investments will rise 0.8% in 2017, by 3% in 2018 and by 4.2% in 2019.

Industrial output will demonstrate a zero change in 2016, a 1.1% rise in 2017, 1.7% in 2018 and 2.1% in 2019.

Real income will fall by 2.8% in 2016 but their growth will resume in 2017, when they will grow by 0.7%. They will rise 1% in 2018 and 1.1% in 2019.

Retail sales will shrink 2.7% in 2016, grow 1.1% in 2017, 2.6% in 2018 and 3.3% in 2019.

Capital outflow will amount to $40 billion in 2016, $30 billion in 2017, $25 in 2018 and $20 billion in 2019.

The average rate of the ruble will be 67.2 per U.S. $1 in 2016, 64.8 in 2017, 64.1 in 2018 and 62.7 in 2019.

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