Russian GDP down by 3.7% in 2015, state statistics agency says January 25, 2016 - 15:15 AMT PanARMENIAN.Net - Russia's gross domestic product (GDP) fell 3.7% in 2015 as the country's energy-dependent economy reeled from low oil prices, AFP cited the state statistics agency as saying on Monday, January 25. The figure is in line with an earlier Economy Ministry estimate, cited by President Vladimir Putin at his annual press conference in December. Russian GDP increased by 0.6 percent in 2014. Russia - whose energy-reliant economy has already been pushed into recession by low oil prices and Western sanctions over Ukraine - has been rocked by the fresh fall in oil prices and officials have come under increasing pressure to react. Russia's central bank chief Elvira Nabiullina said last week that authorities have "all the means" needed to ward off instability, as the ruble recovered after slumping to an all-time low against the dollar on Thursday. Finance minister Anton Siluanov said this month that the country must adapt its budget to "new realities." Putin said last month that Russia had calculated its 2016 budget based an oil price of $50 per barrel, a figure he said was an "optimistic" assessment of the situation, AFP says. With the Brent hovering around $30 a barrel, the Russian government has announced an anti-crisis plan to support struggling sectors of the economy.  Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot".   Partner news |  Latest news Power of One Dram sums up two-year program with Teach for Armenia  Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for childrenMoscow slams EU mission in Armenia for “provocative activity” The EU mission is doing more and more against Armenia’s neighbors Russia, Azerbaijan and Iran, Mikhail Galuzin said.Yerevan Mayor to travel to Paris on May 15-19 The official delegation headed by Yerevan Mayor Tigran Avinyan will travel to Paris from May 15 to 19.Armenia, India hold first defense consultations The meeting was attended by Indian Ambassador Nilakshi Saha Sinha and Defense Attaché Brigadier General Naveen Nijhawan. |
