The Russian economy avoided recession • Republic (ex. Slon.ru) • RIMA

The Russian economy avoided recession

The Russian economy in the second quarter of this year increased by 1.2%. This was stated by the head of the Ministry of Economic Development Alexei Ulyukaev at a meeting with Russian President Vladimir Putin, according to the Kremlin website.

The minister added that in the first quarter, GDP growth was 0.9%. According to the results of the half -year in general, the country's economy increased by 1.1%.

In mid-May of this year, Ulyukaev admitted that according to the results of the second quarter of the GDP of Russia, it could be reduced by 0-0.1%, which will mean a technical recession for the economy (a state in which GDP falls within two quarters in a row). He previously noted that, taking into account the cleaning of the seasonal GDP factor in the first quarter, it decreased by 0.5%, although without taking into account the seasonal factor grew by 0.8%.

In early June, analysts at the British Bank of HSBC came to the conclusion that the Russian economy has already passed into a state of technical recessia, since according to the results of the first half of the year it showed zero growth rates. As HSBC experts expect, in the second half of this year, Russia awaits Russia (economic stagnation will accompany inflation acceleration).

In April-May, the Central Bank and the Ministry of Economic Development worsened the forecast for GDP growth in 2014. The Central Bank expects that according to the results of the year, the economy of the Russian Federation will increase by not 0.9%, but only by 0.5%. The Ministry of Economic Development reduced the forecast for the growth of the country's GDP with 2.5% to 1.1% according to the basic scenario and up to 0.5% by conservative.