The Ministry of Finance: the Russian economy is recovering after undergoing a summer of “bottom”

The Ministry of Finance: the Russian economy is recovering after undergoing a summer of “bottom”


The pace of recovery of the economy is currently still quite low, said the Deputy head of the Ministry of Finance Maxim Oreshkin. According to the Minister, to expedite necessary structural reforms.

MOSCOW, 23 Dec. The Russian economy still recovering fairly low rate after passing the “bottom” in the summer, to accelerate the recovery requires structural reforms, said the Deputy head of the Ministry of Finance Maxim Oreshkin.

“If we look at the monthly statistics, which publishes the Rosstat, the monthly GDP has passed the bottom somewhere in June-July, and since then started a positive trend. The industry is even better: the minimum point was passed in may, and since then, the economy slowly starting to recover,” he said. on air of TV channel “Russia 24”.

“The problem is that the pace of this recovery is still quite low, and here the first thing is to move towards structural changes in the Russian economy to continue to build on this momentum and bring it to more pleasant things,” he added.

In turn, the head of the Ministry of economic development Alexey Ulyukaev last week said that the situation in the Russian economy in November had deteriorated under the impact of lower oil prices — seasonally treated monthly dynamics of GDP was back in negative plane and in annual terms remained at the level of October.

However, the speaker still does not exclude that by the end of 2015 the GDP is limited to 3,7-3,8%. Officially the Ministry of economic development predicts a decline in GDP by 3.9% this year.

In January-September this year, a decline of the Russian economy, according to preliminary estimates of Rosstat, amounted to 3.7%. In January-October, according to the Ministry of economic development, the decline amounted to 3.7%.