The Russian Ministry for Economic Development has published new forecasts for 2015, predicting an economic drop by 3% and improvements only in 2016. According to the basic scenario, GDP should increase by 2.3% in 2016, by 2.5% in 2017-2018 at a world economic growth rate of 4%. The ministry says that economic growth in Russia would be stimulated by consumer demand. The retail turnover this year will fall by 8%, wages by 10%, Interfax reports.
Minister for Economic Development Alexey Ulyukayev said that investments will grow in 2016-2018. Oil prices, in his words, will rise to $50 in 2015, $60 in 2016, $70 in 2017 and $80 in 2018. The outflow of capital from Russia will total $110 billion in 2016, $50 billion by 2018. Average inflation in 2015 will reach 16%, dropping to 10% in 2016, then to a little over 7%.
Dmitry Piskulov, the chairman of the board of the National Currency Organization, agreed with Ulyukayev’s forecasts in an interview with Vestnik Kavkaza. He reminded that oil prices were $55-60, the world demand for commodities will rise, interest rates and inflation would fall, the key rate and the interest rate of banks would be lowered.
The expert added that import displacement in agriculture and consumer goods, state capitalization of banks and priority sectors, and support for small and medium-sized business would boost GDP in 2016. Piskulov forecasts GDP growth of 1-1.5%.
The Russian Ministry for Economic Development has published new forecasts for 2015, predicting an economic drop by 3% and improvements only in 2016. According to the basic scenario, the GDP should increase by 2.3% in 2016, by 2.5% in 2017-2018 at a world economic growth rate of 4%. The ministry says that the economic growth in Russia would be stimulated by consumer demand. The retail turnover this year will fall by 8%, wages by 10%, Interfax reports.Minister for Economic Development Alexey Ulyukayev said that investing will activate in 2016-2018. Oil prices, in hiss words, will rise to $50 in 2015, $60 in 2016, $70 in 2017 and $80 in 2018. The outflow of capital from Russia will total $110 billion in 2016, $50 billion by 2018. The average inflation in 2015 will reach 16%, dropping to 10% in 2016, then to a little over 7%.Dmitry Piskulov, the chairman of the board of the National Currency Organization, agreed with Ulyukayev’s forecasts in an interview with Vestnik Kavkaza. He reminded that oil prices were $55-60, the world demand for commodities will rise, the interest rate and inflation would fall, the key rate and the interest rate of banks would be lowered.The expert added that import displacement in agriculture and consumer goods, state capitalization of banks and priority sectors, support of small and medium business would boost the GDP in 2016. Piskulov forecasts a GDP growth of 1-1
