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All Russian industries to end year with upside, except automotive sector

December 01, 2016, 13:56 UTC+3
Production decline in the Russian automobile industry will be about 9% as of 2016 year-end
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MOSCOW, December 1. /TASS/. All Russian industries will end the year of 2016 with upside on an annual basis, except the automotive sector, Industry Minister Denis Manturov told reporters on Thursday.

"As far as branches of industry identified today by Russian President Vladimir Putin are concerned, the situation will not change dramatically, all of them will have the upside [as of 2016 year-end - TASS], except the automotive sector," Manturov said.

According to Manturov, production decline in the Russian automobile industry will be about 9% as of 2016 year-end.

"I believe the ultimate figure of year-on-year [decline in automobiles production in Russia - TASS] will be within 9% or probably 8.5%," the minister said.

Production dropped 10% in the domestic automobile industry as of the end of ten months of 2016, Manturov said. Cars production is the main factor influencing on the production rate drop, he added.

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