The Russian economy in 2016 may fall even with a high probability, however, such a scenario cannot be considered predetermined. This was stated on Friday by Deputy Prime Minister Arkady Dvorkovich.
“Almost all predict a downturn in our economy. I don’t want anything to do with this forecast, I don’t want to sell. It’s not interesting and absolutely pointless. Moreover, I believe that there is no predetermination that we will have this year, the downturn in the economy,” he said. According to Arkady Dvorkovich, for various reasons, the decline in 2016 most likely, but the final results depend on the actions of the authorities. “Sure, external circumstances might prove too strong, but, nevertheless, in most scenarios, we can stabilize our economic situation”, – said Arkady Dvorkovich.
In addition, hydrocarbons may remain the core of Russia’s economy, says Deputy Prime Minister. “But the other two wealth much more serious is our land and our people: the ability to feed oneself, people is the possibility of technological development”, – noted Arkady Dvorkovich.
According to Rosstat, in 2015 the Russian economy decreased by 3.7 percent. According to the Minister of economic development of Russia Alexei Ulyukayev, economic recovery is possible in 2016. According to the forecast the MAYOR, Russia’s GDP could grow in 2016, 0.7 percent in the oil price in 50 dollars per barrel (now about 34 dollars). The Bank of Russia is expected to reduce the economy by 0.5-1 percent in 2016.
According to the forecast of international rating Agency Moody’s, Russia’s GDP could fall by 2016 to 2.5 percent, the Agency Fitch is expected to reduce the Russian economy by 1 percent.
