The Ministry of Economic Development expects the resumption of economic growth in Russia in 2016-2017. Such a forecast was made by the head of the ministry Alexei Ulyukayev.
"It depends on the global market, but we think that in 2016-2017 the dynamics of Russia's GDP may be positive," he said in an interview to Bloomberg.
Decline in GDP in 2015 could reach 4-5% if the price of oil at around $45 lasts for the whole of this year, the minister said.
"If we take into account the current situation, I am referring to the price of oil around $45 per barrel, and suggest that this price will be throughout the year, then the real decline in GDP will be about 4-5%. This is one of the possible scenarios. I think this is the worst possible scenario, as we believe that oil prices will be higher than they are now," the news agency TASS quoted Ulyukayev.
