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

Production decline in the Russian automobile industry will be about 9% as of 2016 year-end

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.

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"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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