The Economy of Russia in 2015. Forecasts of the Ministry of Economic Development
The Economy of Russia in 2015. Forecasts of the Ministry of Economic Development
The economy in 2015 will worsen in Russia. On December 2, the Ministry of Economic Development presented a new forecast, where it is reported about the possibility of reducing GDP, and other indicators of economic development have changed.
At the briefing, Alexei Vedeneev, who is Deputy Minister of Economic Development of Russia, announced that the new forecast provided for a GDP decline of 0.8%.
According to him, it is expected that the recession of the Russian economy will begin already in the 1st quarter of 2015. But there is a possibility that in early 2016 the economy will start to rise again.
There was also a statement about the possibility of a peakthe fall of the Russian economy in the summer of 2015. According to the acting director of the consolidated department of the Ministry of Economic Development Kirill Tremasov, after this fall, the economy may rebound and develop its dynamics. The Ministry of Economic Development now predicts that the outflow of money from Russia will increase by $ 40 billion, that is, it will be approximately $ 90 billion. It is projected that capital outflow in 2014 will be $ 125 billion, not $ 100 billion, as previously thought.
It is assumed that inflation in 2015 will be 7.5%. In 2014, it was 9%.
According to the received props, it is expected that the dollar exchange rate in 2015 will be within the range of 48-51 rubles. Such a rate was predicted as a result of data on the cost of oil and the planned outflow of capital.
Imports and exports are also projected to decrease. This is mainly due to sanctions imposed by the European Union. The forecast says that the sanctions will burden Russia until the end of 2015.
