Ulyukaev announced the exit of the Russian economy from recession

The recession in the Russian economy is over, said the head of the Ministry of Economic Development of the Russian Federation Alexei Ulyukaev.

According to the minister, we can talk about a recession after two consecutive quarters of economic decline, which is not currently observed in Russia.

Ulyukayev did not specify exactly when the economy emerged from recession. According to Interfax, the minister meant that growth was recorded in the third quarter of 2015. In the fourth quarter, it gave way to a recession, but it will be possible to speak of a recession only if the recession continues into the first quarter of 2016.

• In August 2015, Alexey Ulyukaev announced that the Russian economy had "hit a brittle bottom" with a 0.1 percent GDP growth recorded in July.
• According to Rosstat, at the end of 2015, Russia's GDP fell by 3.7%.