• Russia resumed economic downturn

  • In September, the decline of the Russian economy resumed in annual terms, GDP fell by 0.7 percent. About it show data of monitoring of socio-economic development of Russia held by the Ministry of economic development. In August was recorded economic growth of 0.2 percent.

    The Ministry notes that in September the situation has deteriorated in industry due to the fall in manufacturing industries.

    "Seasonally adjusted industrial production index in August after rising 0.3 percent month-to-month re-entered in negative values, a decrease of 0.2 percent in September", — stated in the monitoring.

    According to the Department for the first nine months, Russia's economy also declined by 0.7 percent.

    While inflation in Russia from the beginning of 2016 remained at a historic low — at 4.1 percent.

    17 of October, Prime Minister Dmitry Medvedev said, that Russia has passed the most difficult period, the economy has adapted to the fall in hydrocarbon prices and sanctions.

    3 Oct the Ministry of economic development published monitoring, according to which the decline of the Russian economy in August has stopped. GDP growth was zero in comparison with the same month last year.

    According to Rosstat, the decline of Russia's GDP in the first half amounted to 0.9 percent in the second quarter — 0.6 percent in the first quarter to 1.2 percent.

    For the year, the economic development Ministry expects a GDP decline of 0.6 percent.


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