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Russian Gov't Expects GDP to Shrink by 0.3% in 2016, Grow by 1.4% in 2017

© Sputnik / Iliya Pitalev / Go to the mediabankRussian Ministry of Finance has reviewed the main characteristics of the federal budget for the 2015-2017, increasing the budget deficit level from 0.4 to 0.5 percent of the GDP.
Russian Ministry of Finance has reviewed the main characteristics of the federal budget for the 2015-2017, increasing the budget deficit level from 0.4 to 0.5 percent of the GDP. - Sputnik International
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On annual Q&A seccion Russian President Vladimir Putin said that the Russian government expects little decrease of GDP in 2016, but the streghtening of the economy in 2017 by 1.4%.

MOSCOW (Sputnik) — The Russian government expects the country's GDP to shrink by 0.3 percent in 2016, but the economy is likely to grow in 2017 by 1.4%, Russian President Vladimir Putin said Thursday.

"I already said that the GDP decrease [in 2015] stood at 3.7 percent. This year, the government believes that a minor decrease will remain, but only 0.3 percent. Next year, a growth of 1.4 percent is expected," Putin said during his "Direct Line" Q&A session.

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