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Russia's Economy Minister says GDP to shrink 2.5-2.8 percent in 2015: RIA

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June 6
11:01 AM 2015

Russia's Economy Ministry expects gross domestic product to shrink by 2.5-2.8 percent in 2015, Economy Minister Alexei Ulyukayev said on Saturday, according to RIA news agency.

"This year as a whole we expect a 2.5-2.8 percent fall in GDP," RIA quoted him as saying during a visit to Voronezh.

The ministry officially forecasts that GDP will contract by 2.8 percent this year, but Ulyukayev had previously said the decline may be less than this.

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