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Russian Economy Ministry improves GDP decline outlook for 2016

Russia’s GDP grew by 0.1% in November 2016 net of seasonal factors

MOSCOW, December 26. /TASS/. Russia’s GDP decline will amount to 0.5% in the end of 2016 instead of 0.6% which was forecast earlier, Economic Development Ministry said in a report on Monday.

"Growth rate of physical volume of GDP in 2016 has been raised to -0.5%," the document said.

Russia’s GDP grew by 0.1% in November 2016 net of seasonal factors, according to the document.

"The Russian economy returned to growth rates in November: according to the estimate of the Economic Development Ministry, seasonally adjusted GDP index was 0.1% month-on-month," the document said.

The decline in equity investments slow down to 3% by end of 2016, the report said.

Earlier the decline in equity investments was expected at 3.7%

"The estimate of rate of equity investments decline for 2016 has been specified amid the statistics for the third quarter published by the Rosstat," the report said.

Rosstat is Russia’s Federal State Statistics Service.

According to Rosstat, equity investments decrease by 2.3% in January-September 2016. In the third quarter, the investments rose by 0.3%.

"The behavior of investment activity indicators in November reflects stabilization and a possible reversal in the dynamics of investments, the Federal State Statistics Service concludes.