MOSCOW, May 25 (RIA Novosti) - The Russian government is to downgrade its 2009 GDP forecast, Finance Minister Alexei Kudrin said on Monday.
Under the official federal budget forecast, Russia's GDP is set to decline by 2.2% in 2009. However, the IMF has predicted that Russia will see a 6% GDP plunge.
"We saw a 9.5% plunge in the first quarter, which exceeds the forecast. We are currently finishing drafting a forecast that will readjust the GDP fall taking into account all anti-crisis measures, which means the plunge will be greater," Kudrin said.
He said the final forecast would take into account the economic performance of the world's leading industries and of the CIS states.
The finance minister also said the inner Cabinet had approved the major parameters of the country's tax policy for 2010.
Kudrin said earlier in the day the Russian budget deficit could exceed the forecast 7.4% of GDP.
