Russia’s GDP decline may equal to 3.5-4% in 2015, which exceeds the forecast by the Economic Development Ministry, Presidential aide Andrei Belousov said on Monday.
“Judging by what was happening in the second quarter I think the decline may be around 3.5-4%,” he said.
Earlier Russian Economic Development Minister Alexey Ulyukayev said the economic situation in Russia should get better in the third quarter while GDP drop will not exceed 2.6-2.8% at year-end 2015. However, according to Ulyukayev, the Ministry is most likely to review its macroeconomic forecast for this year as the country’s GDP dropped 4.6% in the second quarter, exceeding forecast /4.4%/. “We most probably will review the whole forecast for 2015, including of GDP though it’s going to be a slight correction,” he said.