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Russia's GDP declined 3.9 percent in 2015

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Staff writer ▼ | January 19, 2016
The decline of Russia’s GDP in 2015, according to preliminary estimates, amounts to 3.9%, Russian Economic Development Minister Alexey Ulyukayev said.
Alexey Ulyukayev
Decline   Minister Alexey Ulyukayev:
"According to preliminary estimates of the Russian Federal State Statistics Service, the decline amounts to 3.9%. I believe, it will be somewhere around 3.8-3.9%. So far there is no final figure," he said.

Previous forecast of the Economic Development Ministry included a decline of 3.7-3.8%. The ministry currently revises its estimates for 2016.

Vedomosti newspaper reported earlier that the currently discussed version of socio-economic development scenarios includes reducing GDP by 0.8% against the expected growth of 0.7%, the average annual exchange rate will be 68.2 rubles, the price of Urals oil - $40 per barrel, inflation - 8.5%; capital outflow - $50 bln.

According to Ulyukayev, a "stress" scenario is also being discussed, which includes the oil price of $25 per barrel.