Diplomat calls US’ allegations about isolation of Russia in UN 'strange'Russian Politics & Diplomacy April 28, 20:58
Experts say Russian hackers strongly demonized in USRussian Politics & Diplomacy April 28, 20:35
Ferrari drivers clock best time in Practice Two of Russia F1 GP in SochiSport April 28, 19:54
Red Bull’s advisor Marko says Kvyat to possibly remain with Toro Rosso next yearSport April 28, 19:16
Pope Francis blesses pregnant TASS correspondent en route to EgyptWorld April 28, 18:55
Russian diplomat says use of military force against North Korean unacceptable, dangerousRussian Politics & Diplomacy April 28, 18:45
UN chief calls for lowering risk of miscalculation concerning North Korea issueWorld April 28, 18:15
Moscow deeply regrets Montenegro’s decision to join NATORussian Politics & Diplomacy April 28, 18:07
Maria Sharapova reaches Porsche Grand Prix semifinalsSport April 28, 17:50
BREST /Belarus/, July 27. /TASS/. Economic recession has hit its bottom in Russia, the Minister of Economic Development Alexey Ulyukayev said on Monday.
"A 3.4% drop is our 1H estimate, around 4.4% is our Q2 estimate. We assume this is probably the lowest point, which will be followed by some certain upwards correction starting from Q3," the Minister said.
The result of the Government’s actions within the anti-crisis policy is already obvious, he said. "We see that recession dynamics is decreasing. We expect the trajectory to change within nearest weeks, first month-on-month positive dynamics and later year-on-year economic growth in 2016," the Minister added.
The economic situation in Russia is going to improve in the third quarter as GDP drop will not exceed 2.6-2.8% by the end of 2016, he said.
According to reviewed economic forecast by Russia’s Economic Development Ministry published in May, GDP will drop by 2.8% in 2015 while in 2016 and 2017 GDP will grow by 2.3% and by 2.4% in 2018.