Ulyukayev: Russia’s GDP’s decline in October in annual terms amounted to 4%

BEIJING, 10 Nov. The reduction of the Russian economy in October of 2015 to October of last year was quite deep — about 4%, on a monthly basis with month seasonally adjusted GDP increased by 0.3-0.4%, declared the Minister of economic development Alexei Ulyukayev.

“There is indirect evidence, is the loading on the Railways and electricity consumption in October, about the same as in September, that is a very little growth month-to-month on month seasonally adjusted and in annual terms is still a recession (in October and for ten months — ed.). In October in annual terms the decline was quite deep — about 4%”, — said the Minister to journalists.

In September, the Russian economy on-month seasonally adjusted increased by 0.3% in annual terms, the GDP amounted to 3.8%. For the nine months, the decline was 3.9%.

At year-end the Ministry of economic development predicts a decline in GDP by 3.9%.