World Economy

Russia GDP to Grow 2.3%

Russia GDP to Grow 2.3%Russia GDP to Grow 2.3%

Russian Economic Development Minister Aleksey Ulyukayev said Russia’s GDP will grow by 2.3% in 2016, and by 2.5% in 2017 and 2018, Tass reported. He expects the recession to end this year, and economic growth in 2016. “Recession will continue in the third quarter but then improvement will start in the fourth quarter,” he said. Russia will return to the pre-crisis level of economic development in 2017-2018, the minister added. Ulyukaev also expects a gradual decline in capital outflows “within three years by $60-50-40b, based on a repayment schedule of borrowers in foreign markets, and on a revival of interest in the Russian stock and bond market.”