Ministry of Economic Development has worsened the outlook for a decline in GDP.

KommentariiZatormozili30.01.2009Rossiyskaya economy in 2009 will cease to rastiEkonomika Russia in 2009 did not decline at 0.2 percent as previously estimated, but at 2.2 percent. The statement was made deputy head of the Ministry of Economic Development Andrei Klepach. His words RIA News. The forecast for recession promproizvodstva downgraded to 7.4 percent, to reduce investment - up to 14 percent.
In doing so, the forecast for average oil price has remained unchanged: 41 dollar per barrel. It is possible that if the Government will review and assess this, then Russia's GDP will fall to an even greater amount. Inflation, according to the Ministry of Economic Development, will be 13-14 per cent per year.
According to Klepach, the Ministry of Economic Development has had to revise its forecast because of the slowdown of investment. That was reported by Interfax. "
The new projections are needed to establish a budget for 2009. Recall that the State Duma, the Federation Council and the President approved the budget for 2009 in the old wording, which states that oil prices are near $ 95 a barrel, and the country's income has exceeded expenditures.
Already in autumn 2008 it became clear that these projections are not met. According to new government estimates, the data in early 2009, the budget deficit could reach up to eight per cent of GDP.
In 2008, the economy of Russia, to assess the Ministry of Economic Development, grew by 5.6 per cent. Especially the rate of GDP growth slowed in the second half, when Russia began to feel the effects of global financial crisis.