Economic Growth : The Forecasts Are Downgraded

The medium-term forecast released by the RF Ministry of Economic Development has been altered by downgrading the economic indices compared with its April version. However, the growth rate of real GDP for 2019 has been left unchanged (1.3%), and its index for the next year has been decreased from 2% to 1.7%. As far as the budgetary process is concerned, the GDP indices in nominal terms have likewise been reduced, thus translating into expectable revenue cuts. In this connection, it would also be reasonable to expect a shrinkage of expenditure, to be followed by a shrinkage of domestic demand