28 September 2016, 12:15 GMT
MOSCOW (Sputnik) – Russia's economy will enter the growth phase at the beginning of next year, country's Prime Minister Dmitry Medvedev said Saturday in an interview.
"We assume that at the end of the year these negative trends, which have been developing in our economy over the past two-three years, will exhaust themselves owing to the measures taken by the government and the general improvement of the situation. And already at the beginning of next year, we will reach relatively small parameters of economic growth, that is to say the GDP growth," Medvedev told Russia's Channel One.
The Russian economy suffered a setback in 2014, as the ruble lost about half of its value against the US dollar amid low global oil prices and Western economic sanctions imposed against Russia over the Ukrainian crisis. The country's GDP fell 3.7 percent in 2015, according to the Russian Federal Statistics Service Rosstat.
