Official: VEB.RF expects Russian economy to rise 1% in 2019

MOSCOW, Sep 5 (PRIME) -- VEB.RF expects growth of the Russian economy to slow down to 1% in 2019 and to 1.1–1.5% in July–September and October–December Oleg Zasov, deputy director of the institute for research and expertise, said at a conference on Thursday.

“Our forecast is that the gross domestic product (GDP) dynamics will accelerate, growth will amount to 1.1–1.5% in the third and fourth quarters, which is more than in the first half of the year,” he said.

“In general, we expect a 1% growth of the economy, which is less than the official forecast published recently. At the same time, this is quite a positive scenario. And as we see, there is a risk that the economy will be weaker than 1% in 2019.”

Zasov said that a forecast until 2021 is based on a U.S. $60 per barrel oil price and stands at 1.8%, with a later acceleration to 2.0–2.5%.

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