Shuvalov called disappointing recent GDP data – RBC

Quote.rbc.ru 27.05.2015 15:41

First Deputy Prime Minister Igor Shuvalov called disappointing recent data on dynamics Russian economy, according to RIA Novosti.
 

«We have the latest figures, by the way, economic growth is not comforting,” – Shuvalov said, speaking on Wednesday, May 27, at a meeting of Russian President with cabinet members. In this specific figures, he did not name.
 

According to the monthly index of Vnesheconombank, the situation in the Russian economy in April 2015 was even worse than expected Economic Development. Russia’s GDP is reduced throughout the first four months of 2015. At the same time in April, the decline in GDP accelerated significantly – in March, the rate of decline did not exceed 3.3%. Compared to March 2015 the volume of GDP fell in April by 0.6%, which is one and a half times the rate of decline in the previous month. In general, in January-April 2015 Russia’s GDP, according to estimates VEB, decreased by 2.5%.
 

Acceleration of GDP decline on the Web account for deterioration in industry, transport and financial sectors, as well as the negative dynamics of export duties, which supported the GDP in the first months of the year.
 

In turn, last week the Ministry of Economic Development has committed a record decline in the economy in April. According to Deputy Economic Development Minister Alexei Vedev in April decline in GDP could reach 4%. Earlier the Ministry of Economic Development provides an assessment in the 3.5-3.7%. Reduction of GDP in the first months of this year, the Economic Development Ministry explained in the April decline in the construction, manufacturing and retail trade

Hope Kozinova

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Photo: Yekaterina Kuzmina / RBC’s