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The Russian Economy Has Reached Bottom And Pushed Off From It
August 16, 2016 17:37


The Russian economy has reached bottom and pushed off from it. This information is contained in the monthly bulletin of the European Central Bank (ECB).

The European regulator points it out that Russia’s GDP returned to growth in the first quarter of 2016 and grew by 0.3 percent, as compared to the fourth quarter of 2015.

On August 1 the experts of HSE reported that the Russian economy began to decline again and broke through the bottom. “GDP (...) broke through the bottom in the first quarter of 2016, while, according to our estimates, in the second quarter it was 1.4 percent below the bottom and 5.5 percent below the average level of 2014” - the university’s analysts noted . Earlier, on July 28, the Ministry of Economic Development has reported that the decline in Russia’s GDP virtually stopped in June with the exception of seasonal factors. At the end of 2015, Russia’s economy shrank by 3.7 percent.


Author: Anna Dorozhkina


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