The Ministry of economic development for the second time this month lowered the growth forecast for the economy

In the base forecast of development of Russian economy for the next three years, which has developed Ministry of economic development, the Agency downgraded the growth of GDP compared to the previous version, writes the newspaper “Vedomosti”, which reviewed the document. And for the last month, these figures are reduced for the second time. The forecast will be considered at the government meeting on October 13, the newspaper writes.

As follows from the document, in the base case, which is based on the average price of oil at $40 a barrel, economic growth will remain at nearly zero and will be 0.2%. Prepared in September version of the forecast was planned GDP growth of 0.6%. The GDP growth forecast for the two subsequent years also reduced: in 2017 from 1.7% to 0.9%, and in 2018, down from 2.1% to 1.2%.

As previously wrote the newspaper, in the September version of the forecast of development of Russian economy for the next three years the Ministry of economic development worsened the most compared to the same forecast developed in April.

The publication quotes the words of the representative of the Ministry, which said that the Outlook change is due to budget consolidation.