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Russia’s GDP down 3.7% in 2015 — statistics service

January 25, 11:38 UTC+3
Russian Economic Development Minister Alexey Ulyukayev told reporters today that the tendency for falling GDP did not persist in December 2015
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© Sergey Konkov/TASS

MOSCOW, January 25. /TASS/. Russia’s GDP has dropped by 3.7% in physical terms in 2015, the state statistics service Rosstat said in a report on the social-economic situation in the country on Monday.

In 2014 Russia’s GDP grew by 0.7% in comparison with 2013.

Russian Economic Development Minister Alexey Ulyukayev told reporters today that the tendency for falling GDP did not persist in December 2015, according to preliminary information.

Ulyukayev said earlier that, according to preliminary assessments, Russia’s GDP fell by 3.9% in 2015. The latest forecast by the Economic Development Ministry envisaged the fall of GDP by 3.7-3.8%

The minister also said that ruble’s devaluation has not become a growth catalyst for the Russian economy due to lack of investment and production capacities.

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