Alexei Kudrin: Ahead Russia will face acute phase of crisis

Baku. 1 June. REPORT.AZ/ Peak of the economic crisis in Russia has not yet come. 

Report informs, the Former Russian Finance Minister Alexei Kudrin in an interview with Interfax news agency.

According to him, the most acute phase of the crisis will be in the second half of 2015.

"The acute phase of the crisis will come. The decline in Russia's GDP in the second quarter of 2015 will be greater than in the first", said A.Kudrin.

According to the former minister, the peak of the crisis is likely to reach in the second quarter.

Then the situation may even out, and stop the decline, but still statistically GDP will show a decline compared to the same period last year.

A.Kudrin expects 4% decline of GDP this year's, which is slightly more than the prediction of the Ministry of Economic Development.