Russian economy ministry lowers GDP growth outlook

Russian economy ministry lowers GDP growth outlook

Russian gross domestic product (GDP) growth is seen at 1.3% year-on-year in February, Russian Economic Development Ministry said.

The ministry also revised its estimate for January GDP growth to 1.7% year-on-year, versus a previous estimate of 1.9%.

The ministry said that annual inflation is forecast at between 2.3-2.6% in April and the ruble is seen trading at around 50 to the dollar with current oil prices and no new sanctions, Reuters reported.

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