Russian ministry updates forecasts for 2015, sees GDP down 3.7%
MOSCOW, Dec 9 (PRIME) -- Russia’s Economic Development Ministry has improved expectations of the gross domestic product (GDP) contraction to 3.7% from 3.9%, Minister Alexei Ulyukayev said Wednesday at a meeting of the Federation Council, the parliament’s upper house.
“The updated GDP estimate stands at 3.7% instead of 3.9%, the average annual rate (of the ruble against the U.S. dollar) remained the same (at 61 rubles) given that the (Urals) oil is worse than forecasted at about U.S. $51.5. And inflation will be slightly higher, at about 12.5%,” he said.
Russia’s industrial output will fall by 3.3% in the year, but investments will contract only by 7% instead of a previously forecasted 9.9% decrease.
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09.12.2015 12:25