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Russian economic growth unlikely in coming months — Central Bank

April 07, 2016, 20:01 UTC+3 MOSCOW

Russia’s GDP declined 1.6% year-on-year in January - February 2016

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© Sergei Fadeichev/TASS

MOSCOW, April 7. /TASS/. The probability of growth resumption in the Russian economy is low in coming months, the Bank of Russia said on Thursday in its trends research report.

"Russian looking-forward indicators of business activity show low probability of sustainable growth resumption in the economy in coming months, despite gradual recovery of the economy from the winter collapse of oil prices," the report says.

Production dynamics shows the economy is more resistant to the oil prices drop, the regulator said.

"Risks of a new turn of recession did not become true. Structural changes favoring the tradeable sector are taking place at the level of individual sectors and production facilities and production output growth is noted," the Central Bank said.

Russia’s GDP declined 1.6% year-on-year in January - February 2016.

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