The Finance Ministry expects GDP growth throughout 2016

The Finance Ministry expects GDP growth throughout 2016


The Deputy Minister of Finance Maxim Oreshkin said that the decline of the economy in the first half of this year was due to the adaptation to new conditions, such adaptation is now complete.

LIMA, 9 Dec. The Finance Ministry expects GDP growth in quarterly terms throughout 2016, said Deputy Minister of Finance Maxim Oreshkin.

“The main problem is that we will be satisfied with the high base effect in the first half, especially in the first quarter. So there will definitely be a negative value. We expect all four quarters of 2016 will be a growth quarter to quarter. Depending on what scale this growth will develop, and will depend on the extent to which positive growth in the whole year we get,” said Oreshkin journalists.

According to the official forecast of Ministry of economic development, the growth of the Russian economy in 2016 in annual terms will amount to 0.7%.

“We also expect positive results year-on-year,” said Oreshkin.

According to him, the decline of the economy in the first half of this year was due to the adaptation to new conditions, such adaptation is now complete.