Official: Russian Fin Min sees 2% GDP rise possible ‘19

ST.PETERSBURG, Jun 7 (PRIME) -- The Russian gross domestic product (GDP) growth is not to slow down significantly in 2019 as compared with 2018 to 2%, Deputy Finance Minister Vladimir Kolychev said late on Thursday on the sidelines of the St. Petersburg International Economic Forum.

“I expected a strong slowdown in some branches in the first quarter but it did not happen. And since our new programs are gradually gaining force, they will add to the growth in the second half of the year, maybe we will not see a strong slowdown compared with the last year. I will not be surprised by 2%,” Kolychev said.

The official also said that inflation can fall to 4% in 12 months. “It will not be very surprising to see inflation lower than 4% in a timescale of 12 months. It is hard to say about the end of the year, I think, no. But in 12 months, precisely when the value-added tax increase base ends, this is quite possible.”

End