Ulyukayev estimated the decline of the Russian economy in the first three quarters of 3.8%

Ulyukayev estimated the decline of the Russian economy in the first three quarters of 3.8%


According to Alexey Ulyukayev, the fourth quarter will be the bottom, and in 2016 will happen some rebound and the beginning of growth.

MOSCOW, 13 Oct. The Ministry of economic development estimates the Russian economy in the first three quarters of 2015 at 3.8%, said the head of the Ministry Alexei Ulyukayev.

“We have a total of three quarters of recession is 3.8 per cent. We believe that the fourth quarter will be approximately at the same level, and at the end of the year will be the 3.8-3.9% of the decline. The fourth quarter will be the bottom, and already in 2016 — we will see some rebound and the beginning of growth,” he said in an interview with radio station Business FM.

As previously said Ulyukayev, Ministry of economic development expects Russia’s GDP in annual terms since the second quarter of 2016, in quarterly terms in the fourth quarter of 2015.