Swedish think tank SIPRI puts Russia in world’s top three biggest defense spendersMilitary & Defense April 24, 4:35
Ukraine reconciliation meeting in Minsk postponed over OSCE car blastWorld April 24, 3:21
Macron announces his victory in first round of French presidential voteWorld April 24, 1:29
Le Pen gets 23.08%, Macron - 23.11% after 33 mln votes counted — Interior MinistryWorld April 23, 23:58
Preliminary results of French polls reveal defeat of two leading partiesWorld April 23, 22:49
Macron, Le Pen lead in first round of French election — TVWorld April 23, 21:33
Russian Foreign Ministry slams OSCE car incident in Donbass as 'provocation'Russian Politics & Diplomacy April 23, 19:41
Macron winning presidential polls among French living in US, Canada — TVWorld April 23, 19:12
French nationals in Moscow expect presidential polls to bring changes to their countryWorld April 23, 18:01
ST. PETERSBURG, June 19. /TASS/. The fall in Russia’s GDP in the Q4 of 2015 may be about 2%, the Russian Economic Development Minister Alexey Ulyukayev said Friday at the St.Petersburg International Economic Forum (SPIEF-2015).
"We’ll see the decline of roughly 2% in the fourth quarter, and by the end of the year it will be roughly minus 2.8%," the Minister said.
The Economic Development Ministry expects in the Q2 of 2016 Russia’s GDP growth just over 2%. The increase, according to Ulyukayev, will be due to the restoration of consumer demand.
According to Ulyukayev the decline in Russia’s GDP in the Q2 of 2015 will amount to 3.5%-4%. "For the first time GDP decreased in Q1 by 2.2%. The overall fall in GDP in 5 months - 3.2%. I think the results of the second quarter will be even lower - falling to 3.5%-4%. It will be roughly the same in the third quarter," the Minister said.
The Ministry of Economic Development expects to see the beginning of recovery growth in the Q4. "Thus the recession will last three quarters. The recovery growth will begin in the fourth quarter," Ulyukayev said.
At the same time, according to his estimations, Russia could reach the level of potential GDP growth rate of 2%-3% by mid-2016. "I believe that we have a good opportunity to reach the potential level of output by the middle of 2016," the Minister said. He noted that the potential growth of Russia's GDP is estimated at 3.2%, below the world average.