Ministry expects Russia’s GDP to rise 0.3–0.4% in October

MOSCOW, Nov 6 (PRIME) -- Russia’s gross domestic product (GDP) may grow by 0.3–0.4% on the month in October excluding seasonal factors, and in 2015 Russia’s economy may contract by less than the expected 3.9%, Deputy Economic Development Minister Alexei Vedev told reporters Friday.

“The October GDP, I think…now only the most urgent data is registered, and it shows that we are flat, we are at the bottom. I expect it (the GDP growth in October) to be plus 0.3–0.4% with flattened, excluded seasonality, month-on-month,” he said, adding that the conclusion is done on the basis of latest on power consumption and cargo transportation data.

“We see stabilization here,” he said.

In September, Russia’s GDP grew 0.3% on the month excluding seasonality. “And in the year, the 3.9% (GDP contraction)…I do not rule out that it may even be better,” he said.

End