The growth of the Russian GDP will reach the predicted 1.3 percent next year despite some challenges the country's economy will be facing at the beginning of 2019, Russian Economic Development Minister Maxim Oreshkin said on Monday.
MOSCOW (Pakistan Point News / Sputnik - 24th December, 2018) The growth of the Russian GDP will reach the predicted 1.3 percent next year despite some challenges the country's economy will be facing at the beginning of 2019, Russian Economic Development Minister Maxim Oreshkin said on Monday."Overall, throughout the year, we will reach the figure that we already have in our forecast - 1.3 percent," Oreshkin told the Rossiya 24 broadcaster.
The minister noted that the beginning of 2019 would be the most difficult for Russia's economy since this period would be marked by a complex international situation, the volatility of commodity markets, and the consequent decrease in demand for Russian export products, the increase of value added tax as well as the Russian Central Bank's policy aimed at curbing the possible risks of greater inflationary pressure.
The second half of 2019 is expected to be more positive for the Russian economy, the minister noted.
The World Bank said in early December that it expected Russia's GDP growth to be at 1.6 percent in 2018 and 1.5 percent in 2019.
