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Russia’s GDP to grow in 2017 even if oil price is about $40 per barrel

The Bank of Russia notes certain structural changes in Russia's economy

MOSCOW REGION, February 9. /TASS/. Russia’s GDP will grow in 2017 even if oil price is about $40 a barrel, Chairperson of the Bank of Russia Elvira Nabiullina said on Thursday.

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Financial recovery of Russian banking sector may take several years — Central Bank

"The share of growing sectors is not the largest so far but we expect economic growth rates will be present this year. Certainly, they will continue depending on the oil price. We will be in the positive zone in any scenario, even with $40 per barrel [prices]," Nabiullina said.

The Russian economy will demonstrate growth this year and its further rates will depend on the speed of structural reforms, the Central Bank Chief said.

The Bank of Russia notes certain structural changes in the economy, Nabiullina said.

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