MOSCOW, May 12 - Russia downgraded its 2026 economic growth forecast to 0.4% from 1.3% previously, Deputy Prime Minister Alexander Novak told Vedomosti daily in an interview on Tuesday.
He said in 2027 the gross domestic product (GDP) will grow by 1.4% compared to 2.8% in the previous forecast, while the government is expecting growth to reach 2.4% in 2029.
He said the government kept the oil price forecast for budget calculations unchanged at $59 per barrel in 2026 and cut it to $50 in 2027-29.
(Reporting by Darya Korsunskaya; Writing by Gleb Bryanski; Editing by Nia Williams)
