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Wednesday, December 3, 2014

Stagnation of the Russian economy in the first half of 2015

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The Ministry of Economy Russian expectations on Tuesday, the Russian economy into recession during the first half of next year due to a sharp decline in oil prices and geopolitical tensions. It quoted a Russian agencies for Alexei Vedev Deputy Minister of Economy of Russia as saying that the government expects decline in GDP of the country in the first quarter of 2015 by 0.8% after it was expecting to achieve economy in that period grew by 1.2%, in contrast expressed Vedev expects to come back Russian economy to grow during the second half of 2015. And raised the Russian Ministry of Economy forecast for the size of the money outflows of capital from Russia in the next year from 50 to 90 billion dollars, and in light of the continuing decline in the value of the ruble. The ministry expects to break $ 125 billion of capital from Russia this year. Vedev felt that the economic problems will cause the budget deficit in 2015 of about $ 90 billion. It should be noted that these projections are based on the average price of oil in the next year, worth about $ 80 per barrel, which is higher than the value of oil prices at the moment.

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