The Minister of economic development of Russia Alexei Ulyukayev told about the preliminary zero GDP growth in January compared to December last year. He described the current state of the Russian economy with a term from Cycling — sunplaza.
“Preliminary assessment based on the January off season — about zero, maybe plus 0.1% or minus 0.1%”, — he told journalists on Friday in Berlin (quoted by Interfax).
“While continuing uncertain balancing of the economy in place — as the cyclists who would move first. There’s even a term in Cycling – subles”, — the Minister added.
According to the updated forecast of economic development, which in mid-January led to “Vedomosti”, in 2016, Russia’s GDP will decline by 0.8% instead of the expected growth of 0.7%.
Last Thursday, the international rating Agency Moody’s has worsened the forecast of falling of GDP of Russia to 2.5%. The reason for the Outlook change were the decline in oil prices and further fiscal tightening in order to curb the dynamics of public debt.