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Russia’s GDP may fall 5% in 2015 at $40 oil price — ministry

January 14, 2015, 18:54 UTC+3
Russia’s Central Bank will stabilize inflation at 8-10% in 2015, Central Bank First Deputy Head Kseniya Yudayeva said
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© Viktor Drachev/TASS

MOSCOW, January 14. /TASS/. Russia’s GDP may fall by 5% in 2015 at $40 oil price, the Ministry of Economic Development said on Wednesday.

The rate of the Russian ruble rate may stand at 60-70 per dollar in 2015 at this level of oil prices, the ministry added.

Central Bank to stabilize inflation at 8-10%

Russia’s Central Bank will stabilize inflation at 8-10% in 2015, Central Bank First Deputy Head Kseniya Yudayeva said.

Low inflation should become Russian economy’s nominal anchor, the official added. Ruble’s major plunge is now over, and the Russian currency will stabilize in Q1 or early in Q2 of 2015, she noted.

Central Bank of Russia is pondering a scenario of possible actions in a situation where the world price of crude oil falls to $40 per barrel, Yudayeva said on Wednesday.

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