Russian econ minister sees GDP declining 2.5-2.8% in 2015

VORONEZH, Jun 8 (PRIME) -- Russia’s gross domestic product (GDP) will shrink 2.5-2.8% in 2015 in accordance with the Economic Development Ministry’s estimates, Minister Alexei Ulyukayev told reporters June 6.

“Over the year in general, we expect to see a 2.5-2.8% GDP fall,” Ulyukayev said.

Ulyukayev said that the economy will contract by 3-3.5% in April–September, while in October–December, the economy will be flat.

Last week former Finance Minister Alexei Kudrin said the economy will contract by 4% this year. The World Bank expects a 2.7% decrease, the OECD a 3.1% one, the International Monetary Fund (IMF) a 3.4% contraction.

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