Russia will reach around 4% economic growth rate in 2015-2016, Deputy Prime Minister Arkady Dvorkovich said at a business breakfast of business news daily Vedomosti at the Krasnoyarsk economic forum here on Friday.

“I did not hope that we would reach economic growth rate that we needed already in 2013-2014. Most likely this is expected to do it in 2015-2016. Then we will attain a growth rate of around four percent,” he said.

The GDP growth rate is adjusted to two percent in 2014, Itar-Tass reported earlier with the reference to Minister of Economic Development Aleksei Ulyukayev. In December 2013, the Ministry of Economic Development has reduced country’s economic growth forecast from three percent to 2.5% in 2014, from 3.1% to 2.8% in 2015. Economic growth rate is expected at 3.3% in 2016. GDP growth rate will make around one percent in the first quarter of 2014 and may reach 1.5-2% in the second quarter, Deputy Minister of Economic Development Andrei Klepach said in late January 2014.