Russian cbank: GDP decline to slow to 1–1.6% in 2016
MOSCOW, Mar 13 (PRIME) -- The Russian central bank expects that the country’s gross domestic product (GDP) decline will slow to 1.0–1.6% in 2016, Chairwoman Elvira Nabiullina said at a news conference Friday.
“A long period of relatively low oil prices will require that the Russian economy adapt to the new conditions. As a result, we will see a GDP decline of 3.5–4.0% in 2015 and 1.0–1.6% in 2016,” she said.
If the oil price amounts to U.S. $40 per barrel, GDP could drop 5.3–5.8% in 2015, Nabiullina also said.
The Economic Development Ministry expects that the country’s GDP will contract 3% in 2015 at an oil price of $50 per barrel.
In 2014, Russia’s GDP grew 0.6%.
End
13.03.2015 15:54