Russia’s GDP Expected to Grow 1.3-1.5% in 2019

Russia’s GDP growth this year may reach 1.3-1.5%. Russia’s federal budget surplus is expected around 1.8% of GDP. Inflation in 2019 will be within 3.8%, which is the lowest in the history of Russia. This was told by the Russian Prime Minister.

“This year, our economy has developed, but not at such a significant pace as we would like. The maximum growth that we expect can be from 1.3% to 1.5%,” said Prime Minister Dmitry Medvedev  in Russian media channels.

Medvedev described the outgoing year as “stable for the economy and social sector of Russia.”

“In general, our economy and social sector this year were doing quite fine this year, they were stable – and this is most important, given the fact that we remember different years and different issues that emerged one way or another,” he said.

Medvedev said that “prices are changing within these limits, that the lending rates used by banks should take into account real inflation and the Bank of Russia’s key rate that is being formed taking into account this inflation – it will be lower.”

“We hope that as a result of the measures that we have taken, and a number of new measures, we will achieve steady and higher growth rates. Let me recall you, that under a well-known decree of the president and in compliance with national goals, we must grow as the world economy grows – by about 3% per year. This is quite feasible,” the prime minister stressed.

Ru-Main, 8.12.2019


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