Russian Central Bank’s GDP Forecast Lower Than Economy Minister’s

© RIA Novosti . Mikhail MordasovRussian Central Bank’s GDP Forecast Lower Than Economy Minister’s
Russian Central Bank’s GDP Forecast Lower Than Economy Minister’s - Sputnik International
Subscribe
US
India
Global
Russia’s Central Bank said Tuesday that gross domestic product would grow a meager 2 percent this year, with actual output falling slightly behind potential.

MOSCOW, August 13 (RIA Novosti) – Russia’s Central Bank said Tuesday that gross domestic product would grow a meager 2 percent this year, with actual output falling slightly behind potential.

That estimate was slightly more pessimistic than the 2.4 percent that Economic Development Minister Alexei Ulyukayev said in an interview published in the Kommersant newspaper the day before.

Russia's economy grew just 1.2 percent in the second quarter of this year, the sixth consecutive quarter of falling growth year-on-year, the State Statistics Service said Friday.

“Stagnation is probably an appropriate term” to describe the Russian economy, but "there is no recession, and there will not be one," Ulyukayev said in the interview, his first since being appointed to his post in June.

He added that the stagnation was due to high levels of social spending and structural problems.

 

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала