CBR: the fall of the GDP in 2016 could be around 2-3%

CBR: the fall of the GDP in 2016 could be around 2-3%


When the stress scenario with oil price at 40 USD per barrel, the GDP decline may be about 2-3%, said the head of the Bank of Russia Elvira Nabiullina.

MOSCOW, 11 Dec. The fall of GDP in 2016 in the stress scenario with oil price at 40 USD per barrel could be around 2-3%, said the head of the Bank of Russia Elvira Nabiullina at a press conference on Friday.

“Otherwise, it will look the situation in the case of implementation of risk scenarios. The fall in GDP in 2016 may be about 2-3%,” — said Nabiullina.

“In our calculations we take the price of oil near $ 35 per barrel”, — she added.

In a statement following the meeting of the Board of Directors on interest rates the Central Bank noted that expects a decline of Russia’s GDP in 2016 in the baseline scenario by 0.5-1%.