Former Finance Minister Kudrin says Russia's GDP to decline by 4% in 2015

The former Russian Finance Minister and the head of the Civic Initiatives Committee think-tank Aleksei Kudrin said that the fall of the Russian economy this year will amount to roughly 4%, he said Wednesday speaking at the Federation Council.

The former Russian Finance Minister and the head of the Civic Initiatives Committee think-tank Aleksei Kudrin said that the fall of the Russian economy this year will amount to roughly 4%, he said Wednesday speaking at the Federation Council.

"The Ministry of Economic Development expects this year's GDP to decline by 2.8%. I think the fall will be deeper - roughly 4%," he said.

Speaking about the negative factors that affect the Russian economy, Kudrin noted that the sanctions factor "takes away 1% to 2% from the GDP.".

First published by TASS.

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