ARAF to check information from new ARD film on doping in Russian sportSport January 22, 22:47
All countries observe oil output cuts agreement — Russian energy ministerBusiness & Economy January 22, 16:59
Rogozin calls "dangerous incident" UK botched missile launchRussian Politics & Diplomacy January 22, 16:32
Medvedev calls United Russia ruling party, president's main resourceRussian Politics & Diplomacy January 22, 16:27
Mutko calls silly information Infantino asks him not to run for RFU headSport January 22, 16:24
Seven parties to participate in Syrian talksWorld January 22, 9:54
Russia’s Pavlyuchenkova reaches Australian Open quarterfinalsSport January 22, 7:19
IBU Executive Board finds no grouns to suspend Russia's biathlon teamSport January 21, 22:53
Russia terrified watching monuments destroyed in Palmyra — culture ministerRussian Politics & Diplomacy January 21, 17:08
MOSCOW, March 19. /TASS/. Russian Finance Ministry estimates the country’s GDP drop at the level of around 3%, Finance Minister Anton Siluanov said Thursday.
"How long will the situation with the economic recession last? We estimate the drop in the annual rate of economic growth at around 3%. In our view, investment demand is the only possible source of recovery," he said.
In its updated forecast, the Bank of Russia estimates GDP drop at 3.5-4%.
Annual inflation in Russia is at its peak, nevertheless by the end of 2015 - beginning of 2016 it will become single-digit, said Alexey Ulyukayev, Russia's Economic Development Minister.
"Together with our colleagues from the Central Bank we believe, that we have reached the annual inflation peak. By the end of 2015 - beginning of 2016 the inflation is highly expected to become single-digit. This gives the Cental Bank ground to continue reducing the key rate," he said.
Russian Finance Minister anton Siluanov is also optimistic. "We have good reasons to reach the planned inflation of 12.2% this year and even lower than that," the minister said, adding that it’s possible to reach inflation at the level of 11-12% in 2015 since of the current annual inflation rate of 16.7%, 11 percentage points are one-time factors.