The Ministry of Economic Development reported on the termination of an economic downturn

The reduction of Russian GDP, purified from seasonal factors, turned out to be zero in June 2016. Such an assessment was brought by the Ministry of Economic Development in its monthly monitoring, published on July 28.

Thus, the economic decline in the Russian Federation stopped. In April, seasonally cleaned GDP fell by 0.2%, in May - by 0.1%. In general, over the first half of this year, the indicator decreased by 0.9% in annual terms.

“In the first half of 2016, a consistent slowdown in the economic recession took place. If in the first quarter the reduction in GDP was 1.2% of the corresponding period last year, then in the II quarter it amounted to, <...> 0.6%, ”the monitoring says.

According to the basic forecast of the Ministry of Economic Development, according to the results of 2016, the Russian economy should be reduced by 0.2%. In June, the Central Bank improved the forecast for a decline in GDP this year from a fall by 1.3% to a decrease by 0.3-0.7%.

In mid -June, Russian President Vladimir Putin said that the country's economy has practically overcame the decline and adapted to a new reality. At the beginning of the same month, at the Center for the Development of the Higher School of Economics, they warned that the Russian economy "continues to slide into a recession, and the" bottom "was never felt."