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Inflation forecast has increase up to 7-7.5% in 2014, Russia

Increase of the predict values was caused by implemented limitations.

28.Aug.14 2:08 PM
By Mihail Prygunov


Inflation forecast has increase up to 7-7.5% in 2014, Russia
Russian Ministry of Economic Development has increased predicted value of inflation from 6% to 7-7.5% in 2014. Such statement has been made by the Head of Macroeconomic Forecasting Oleg Zasov.

According to the official the increase of predicted value was caused by limitation on products import form the USA and countries which are included in EU. This fact added additional 1% to the forecast.  The same situation is with predicted inflation value of 2015. It will be also increased form 5% to 6-7%. This can be due to new sales tax which also adds additional 1% to the forecast.

The Head of the Department also paid attention to the fact that Ministry of Economic Department should index monopoliesí tariffs in 2015 considering the fact that predicted inflation value will be 7.2% instead of 6%.
Speaking about GDP growth in 2014, all rates are expected to be the same. The current level is 0.5%. However it will decrease in 2015 from 2% to 1%.

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