The economy in 2015 in Russia will deteriorate. On December 2, the Ministry of Economic Development presented a new forecast, which reported on the possibility of reducing the GDP, as well as changed other indicators of economic development.
At the briefing, Alexei Vedeneev, Russia's Deputy Minister of Economic Development, announced that the new forecast foresees a 0.8% decline in GDP.
According to him, it is expected that the recession of the Russian economy will begin in the 1st quarter of 2015. But there is a possibility that the economy will start to grow again at the beginning of 2016.
Also, there was a statement about the possibility of a peak in the fall of the Russian economy in the summer of 2015. According to the acting director of the consolidated department of the Ministry of Economic Development Kirill Tremasov, after this fall, the economy may rebound and expand its dynamics. The Ministry of Economic Development now predicts that cash outflows from Russia will increase by $ 40 billion, or approximately $ 90 billion. Capital outflows in 2014 are forecast to be $ 125 billion, not $ 100 billion as previously thought.
It is assumed that inflation in 2015 will be 7.5%. In 2014, it was 9%.
According to the received promises, it is expected that the dollar exchange rate in 2015 will be within 48-51 rubles. This rate was projected as a result of data on oil prices and planned capital outflows.
Imports and exports are also forecast to decline. This is mainly due to the sanctions established by the European Union. The forecast suggests that sanctions will burden Russia until the end of 2015.
