Ulyukayev admitted the lowering of oil prices in the macroeconomic forecast

Moscow. December 23. The economic development Ministry may revise the oil price downwards in the macroeconomic forecast of development of the country, said the Minister Alexei Ulyukayev.

He declined to give a specific amount that may be reconsidered the price of oil.

He said earlier that the Ministry of economic development in January will present a revised socio-economic forecast for 2016.

In the baseline scenario of the macro forecast for 2016, envisaging GDP growth of 0.7%, based on the price of oil at $50 a barrel. Now the price is much closer to the scenario that the Central Bank was designated as a “risk” ($35 on average for the year).

In a conservative scenario, 2016, calculated at $40 per barrel, the Ministry of economic development predicted the GDP decrease by 1%.

By the end of 2015 the Ministry expects the GDP decrease by 3.7% to 3.8%.

Deputy Minister of Finance Maxim Oreshkin in mid-December noted that the budget shortfall will be Russia in 2016 with oil price at $40 per barrel would be approximately 1.5 trillion rubles, compared with the baseline scenario at $50 per barrel.