Monitoring the MAYOR: Russia’s GDP in January-October decreased by 3.7%

Monitoring the MAYOR: Russia’s GDP in January-October decreased by 3.7%


In October, the economy showed growth of only 0.1% against growth of 0.3% in September. By the end of this year, the Ministry officially forecasts a decline in GDP by 3.9%.

MOSCOW, Nov 27. The decline of Russia’s GDP in January-October was 3.7%, in October has slowed in annual terms to 3.7% from 3.8% in September, according to the monitoring of socio-economic development of the Russian Federation for ten months, prepared by the Ministry of economic development.

In October, excluding seasonal and calendar factors, the economy showed growth of only 0.1% against growth of 0.3% in September.

By the end of this year, the Ministry officially forecasts GDP decline by 3.9%, however, the head of the Ministry Alexei Ulyukayev to exclude that the decrease may be limited to 3,7-3,8%.