VEB deputy CEO sees Russia’s GDP growing 1.2% in 2017

SOCHI, Feb 27 (PRIME) -- Russia’s gross domestic product (GDP) may grow 1.2% in 2017 and even speed up to 3% per year in 2018–2019, Andrei Klepach, a deputy CEO of state development bank Vnesheconombank (VEB) and former chief forecaster of the Economic Development Ministry, told reporters on Monday.

“So far, I think, it will amount to 1.2%,” he said, referring to 2017.

When asked whether the indicator can reach the forecast growth of 3% in 2018–2019, he said that it may happen.

On February 15, Economic Development Minister Maxim Oreshkin said that Russia’s economy could grow around 2% in 2017. The ministry’s forecast implies GDP growth of 0.6% in 2017, if the oil price averages U.S. $40 per barrel and 1.1% if oil price stands of $48 per barrel.

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