11 Oct 2016 19:36

GDP forecasts revised downward on budget consolidation, tighter monetary policy - Econ Ministry

MOSCOW. Oct 11 (Interfax) - The Economic Development Ministry has revised its GDP growth forecasts for 2017-2019 downward owing to the budget consolidation, a ministry spokesman told Interfax.

"This is associated with the budget consolidation. We assume lower inflation, which presumes tighter monetary policy," the spokesman said.