Russia’s gross domestic product (GDP) may fall by 0.6% this year but go up by 0.5-0.8% next year meaning that recession will be over soon, Alexei Kudrin, a former finance minister and the current head of the Center for Strategic Research, said.
The Economic Development Ministry expects the economy to contract 0.6% in 2016 and increase by 0.8% in 2017.
“Recession will finish soon, we already can see growth. This year the statistical fall will stand at about 0.6%, while next year we will see an about 0.5-0.8% growth. This is not much from the point of view of statistics, but we will stop this fall”, he said.
In five years, the Russian economy will reach growth of 3-4% per year, he added. (Prime/Business World Magazine)