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. Last Updated: 07/27/2016

Lower GDP Forecasted

MOSCOW () -- The Economics Ministry expects inflation to fall to an average monthly rate of 3 to 5 percent in 1995 with a budget deficit of 8 percent of GDP, Interfax reported Wednesday.

According to a ministry forecast, gross domestic product of 1,200 to 1,250 trillion rubles ($460 to $480 billion) will be 5 to 7 percent lower than this year. Industrial production will decline by 8 to 12 percent, Interfax said. The full text of the budget for 1995 is to be released at the beginning of October.