Russia-China gas deal may add 0.4% to GDP growth from 2015 - minister

Russian gas giant Gazprom’s contract on gas supplies to China may add 0.3-0.4% per year to growth of gross domestic product (GDP) from 2015, Economic Development Minister Alexei Ulyukayev said at a news conference on June 2, ITAR-TASS has reported.

Russia plans to invest $55 billion to implement works under the contract, and the investments are to provide a significant macroeconomic effect within 5 years from 2015, Ulyukayev said. “We will take it (the effect) into account in September while making a new forecast. I think that there will be 0.3-0.4% annually,” he said.

Copyright: ITAR-TASS, 2014