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Cbank: Russia’s GDP to shrink 0.7% in January–March

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16.03.2015

MOSCOW, March 16 (PRIME) -- Russia’s gross domestic product (GDP) will shrink 0.7% on the year in January–March, the central bank said in a statement Monday, citing First Deputy Chairwoman Ksenia Yudayeva.

“The GDP growth assessment the first quarter of 2015 in a model of short-term forecasting based on economic statistics for January stood at minus 0.7% year-on-year and it was strongly revised downwards,” Yudayeva said.

The central bank will soon publish its economic research, she said.

“I would like to draw your attention to the fact that the estimate of trend inflation in February stood at 10.4%, which is below the central bank’s key rate, but still much higher than the central bank’s inflation target,” Yudayeva said.

PRIME

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