Russian econ min says Moody’s 2016 GDP 1.5% fall forecast untrue

MOSCOW, Apr 26 (PRIME) -- Moody’s forecast that the Russian gross domestic product (GDP) will contract by 1.5% in 2016 will not come true, Economic Development Minister Alexei Ulyukayev said at a ministerial meeting on Tuesday.

“By the way, these colleagues continue to persist in their ignorance and estimate a decline of 1.5%. I want to say: In your dreams!” Ulyukayev said.

The Economic Development Ministry’s forecast assumes that the Russian economy will finish the year with a 0.2% decline.

Ulyukayev said that in 2015, Moody’s expected a 5.5% GDP decrease, the Gaidar Institute for Economic Policy a 6.5% and the Higher School of Economics, even 6.8%, while in fact, the decrease was more moderate, at 3.7%.

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