Russian ministry worsens 2016 GDP decline outlook to 0.5–0.6%

RUSSKY ISLAND, Vladivostok, Sep 2 (PRIME) -- Russia’s Economic Development Ministry has worsened its forecast for Russia’s gross domestic product (GDP) decline in 2016 to 0.5–0.6% from 0.2%, Minister Alexei Ulyukayev told reporters Friday.

“We have slightly worsened the forecast – to 0.5–0.6%,” he said.

The ministry’s basic forecast earlier implied a 0.2% GDP fall in 2016 with an annual average oil price of U.S. $40 per barrel.

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