Russian Econ Ministry expecting 2%-3% decline in economy in Q2
MOSCOW. April 24 (Interfax) - The decline of the Russian economy in Q2 2015 in annual terms will increase slightly and may amount to 2%-3% after a fall by 2.2% in Q1.
Russian Deputy Economic Development Minister Alexei Vedev made such a forecast when speaking to journalists.
"I think that there will be a small negative on a seasonally adjusted basis compared with the first quarter. But, naturally, in annual terms the decline will be larger, although not significantly," Vedev said.
"According to our estimation, the trajectory we will have is: decline in the first and second quarters, after that equilibrium, stabilization and improvement as early as the end of the year," he said.
Vedev pointed out that the ministry had revised its forecast for the decline in 2015 downward to 2.8% from 3% previously. "Clearly, given such a change in the forecast, we are not now talking about a decline of 3%-4% in the second quarter, but are anticipating somewhere around 2% to 3%," he said.
