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Russia's Central Bank forecasts average oil price in 2017 at $40 per barrel

October 28, 2016, 15:18 UTC+3
In 2017, the rate of economic growth will be low - less than 1%, the bank says
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MOSCOW, October 28. /TASS/. The Russian Central Bank retained its forecast for average price of oil in 2017 at $40 per barrel, according to the Central Bank press release.

"In 2017, the rate of economic growth will be low - less than 1%. This forecast is based on the conservative prerequisites of the low growth rate of the world economy, the average annual oil price of around $40 per barrel, moderate capital outflow and preservation of the structural constraints of the Russian Economy," according to the press release.

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