Russian GDP growth in 2016 projected at 0.7%


Russian Economic Development Minister Alexey Ulyukaev said Friday in an interview with Rossiya 24 channel at the International Investment Forum Sochi 2015 that growth of the Russian GDP in 2016 is going to reach 0.7%.

"We forecast some easing of the situation next year - plus 0.7%," he said, noting that the figure is lower than the average global growth.

"This means that the Russian share in the global economy is going to decrease," he said. That is why, according to the Economic Minister, such figures are not the numbers that "will sit well" with Russia.

According to him, in June the economy has come to a state of "unstable equilibrium": seasonally adjusted GDP was at zero point month-on-month - "September against August - 0."

"Apparently, we should not expect further deepening of the recession. We think that by the end of the year the figure of GDP decline in 2015 will stay at 3.8-3.9%," Alexey Ulyukaev said.