The Ministry of economic development called the scale of the fall of the economy in 2016

Photo: Stanislav Krasilnikov/TASS

The Ministry estimated the fall of Russia’s GDP in 2016. According to the weekly monitoring of the Ministry, this indicator decreased by 0.6%

According to the Ministry of economic development, Russia’s GDP in 2016 decreased by 0.6%. This assessment is contained in the weekly monitoring of the Ministry.

The report also says that in December 2016 seasonal-purified GDP decreased by 0.5% the previous month and 1% compared to the same period in 2015.

The document also States that the growth in December showed industry, which gained 0.4 percent in relation to November. A decrease was noted in the retail trade (a decrease of 1% in November), agriculture (-0,2%) and construction (1.4 percent).

In the forecast of socio-economic development, based on which was imposed the budget for the next three years, the decline of the economy in 2016 were also evaluated at 0.6%. It is planned that by next year it should grow (plus 0.6 percent).

On Wednesday, January 25, Rosstat published data on the socio-economic situation in the country at the end of last year. According to these data, in 2016, continued to decline, the turnover of retail trade (it fell 5.2%) and real incomes (decreased 5.9%). The growth last year, according to Rosstat, showed some industry and agriculture. Over the past year the Index of industrial production grew by 1.1% (in 2015 he fell 3.4%).

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