Ministry of economic development has improved the Outlook for the oil price and economic growth in Russia

TASS, August 28. The Ministry of economic development expects that the average price of Urals oil at the end of 2017 will be $49 per barrel and fall to $43.8 in the next year. This writes Reuters, familiar with the materials of the Ministry.

On the background of the revised forecast of oil prices, the Ministry also improved the Outlook for GDP growth to 2.1% in 2017 and 2018, 2.2% in 2019, 2.3% in 2020, the Agency said.

In addition, the Agency predicts that by the end of 2017 the rate of the ruble to the dollar will amount to 59.7 ruble, and by 2020 it will rise to 68 rubles.

Before the price of oil was projected at $45,6 $40,8 per barrel in 2017 and 2018, respectively. And the average rate of the ruble against the dollar this year, according to forecasts of the Ministry was to be to 64.2 rubles in 2020 – 72.7 ruble, the Agency said.

GDP growth was earlier expected at 2% in 2017 and 1.5% in the next three years.

Earlier, the head of the Ministry Maxim Oreshkin said that the growth of the Russian economy will grow every quarter, and in the fall of 2017 in annual terms may exceed 2%.