Russia Sees GDP Growth Restart in Fourth Quarter After Recession
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Russia’s economy may return to growth in the fourth quarter after its first recession in six years, government officials said on Thursday.
Gross domestic product may expand 2.3 percent in 2016 after a contraction estimated at 2.8 percent this year, Economy Minister Alexei Ulyukayev said at a cabinet meeting in Moscow. The ministry, which previously forecast this year’s decline at 3 percent, is seeing signs of financial and macroeconomic stabilization after GDP slumped 2.2 percent in the first quarter from a year earlier, Ulyukayev said.