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Economic Development Ministry lowers forecast for GDP growth

December 03, 2013, 15:03 UTC+3 BALI (Indonesia)
In absolute terms the GDP will reach 67.381 trillion rubles
1 pages in this article
© ArcEPA/ITAR-TASS-ARNE DEDERT

BALI (Indonesia), December 03, 13:26 /ITAR-TASS/. Russia’s Economic Development Ministry has lowered its 2013 forecast for Russia’s GDP growth to 1.4%.

In absolute terms the GDP will reach 67.381 trillion rubles (about $2 trillion), by 208 billion rubles less than in the ministry’s previous forecast.

Economic Development Minister Alexei Ulyukayev said his ministry also lowered Russia’s economic growth from 3% to 2.5% in 2014, from 3.1% to 2.8% in 2015. In 2016, the economic growth is expected to reach 3.3%.

In absolute terms the GDP will total 72.765 trillion rubles in 2014 (a decline by 550 billion rubles as compared to the previous forecast), 78.889 trillion rubles in 2015 (a decline by 771 billion rubles) and 86.937 trillion rubles in 2016.

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