Russian cbank says GDP to shrink 0.2–0.5% Apr–Sep, rise from Oct

MOSCOW, Jun 10 (PRIME) -- The Russian central bank expects the gross domestic product (GDP) to shrink by 0.2–0.5% in April–June and July–September and to start to recover from October, as follows from a report of the ruler, released on Friday.

“In general, taking into account improved dynamics of the key economic indicators and preconditions for a change in external conditions (first of all, adjustments of the expected oil prices), the forecast of the central bank for a GDP decline in the second quarter of 2016 has been revised towards the higher bracket of an earlier forecast, to 0.2–0.5% as compared with the same period last year,” the central bank said.

An earlier forecast for the period implied a 0.3–1.8% GDP contraction.

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