Russian economy continues to decline

GDP fell by 1.4% in the first quarter of this year

Baku. 29 April. REPORT.AZ/ Russian economy decreased by 1.8% in March 2016 compared to the same period of 2015.

Report informs, in January GDP fell by 2.6%, in February, has not changed. Note that economists had forecasted GDP decline by 1.9% in March.In general, the first quarter decline in GDP is estimated at 1.4% compared with the corresponding period last year.

Earlier, international financial institutions issued a forecast for 2016 for the Russian economy.The World Bank predicts a decline of Russia's GDP by 1.9%, the IMF - by 1.8%. In January reports these figures were - 0.7% and 1% respectively.

Notably, Bank of Russia predicted economic contraction at 1.3-1.5% in 2016 if oil prices fall to $ 30 / barrel. Last year, Russian economy contracted by 3.7%. 

Growth of the economy is forecasted after 2017.

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