Lavrov says astonished to watch mass hysteria among US politiciansRussian Politics & Diplomacy July 25, 1:35
Lavrov comments on Syrian de-escalation zone agreementRussian Politics & Diplomacy July 24, 20:15
Iraq calls for closer cooperation with RussiaWorld July 24, 19:09
Russia develops laser-guided automatic landing system for dronesMilitary & Defense July 24, 18:22
Communist propaganda ban not aiming to dismantle Soviet WWII memorials, vows Polish envoyWorld July 24, 18:16
Situation with Siemens won’t affect Russian companies — energy ministerBusiness & Economy July 24, 18:11
Russian energy minister says oil prices may grow in 2017Business & Economy July 24, 17:31
Putin fills in Normandy Four on Russia’s approaches to key Minsk accord provisionsRussian Politics & Diplomacy July 24, 16:57
Normandy Four leaders call for ceasefire in DonbassWorld July 24, 16:29
Russia’s previous macro-economic forecast prepared in autumn was based on the assumption that the sanctions would be lifted in 2015, Ulyukayev said.
The European Council made a decision on sanctions against Russia for a term of twelve months and therefore Russia’s Economic Development Ministry presumed in its previous forecast that this decision may not be extended, Ulyukayev said.
“But hypothetically this decision may be extended. And now we must presume in our calculations that the sanctions regime will last in 2015, 2016 and 2017. But this is already the problem of medium-term planning,” Ulyukayev said.Russia’s Economic Development Ministry unveiled last week its updated macroeconomic forecast based on the assumption that western sanctions against Russia would last throughout 2015. The previous forecast presumed that the sanctions would be lifted in mid-2015.
Owing to the western sanctions, a fall in world oil prices and investor uncertainty, Russia’s Economic Development Ministry expects the country’s GDP to fall by 0.8% in 2015 as compared with its growth by 1.2% in the previous forecast.
At the same time, the ministry raised the GDP growth forecast for 2014 to 0.6% from 0.5% in the previous forecast.