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Russia’s economic development ministry says economic slump in 2015 may not be so dramatic

The ministry’s updated forecast for 2014-2015 it has submitted to the ministry of finance was based on the current trend of sanctions, closed world markets and low oil prices, the minister's aide says

© EPA/YURI KOCHETKOV

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Russia's Economics ministry downgrades 2015 oil price forecast to $80 per barrel

MOSCOW. December 2. /TASS/. Russia’s ministry of economic development does not rule out that economic slump in 2015 may be “not that dramatic” as it can be expected from the updated forecast, a ministry official said on Tuesday.

The ministry’s updated forecast for 2014-2015 it has submitted to the ministry of finance was based on the current trend of ongoing sanctions and closed world markets, and low oil prices, said Elena Lashkina, an aide to the minister of economic development.

“The economy however is adapting to the new conditions. That is why the slump may not be that dramatic. Adaptive possibilities of the Russian economy may prove to be more considerable,” she told journalists.

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