Alexey Ulyukayev: "Small growth in August is quite probable."RIA Novosti
Russia may probably see small growth of GDP in August, Minister of Economic Development Alexey Ulyukayev told reporters on Aug. 22.
"I said [economic growth] will definitely take place in the third quarter and it may be small growth or small decline in the third quarter. [The growth rate] was zero with seasonal adjustment in July. Small growth in August is quite probable," the Minister said.
GDP declined by 0.9 percent in January - July 2016, Ulyukayev added.
Russia’s recession was slowing down steadily as of January - June of this year, according to data of the Ministry of Economic Development. GDP declined by 1.2 percent year-on-year in the first quarter and by 0.6 percent on an annualized basis in the second quarter of this year, the Ministry reported earlier.
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