The Russian Ministry of Economic Development expects Russia's 2011 GDP to grow by 4.1 percent, lower than a previous forecast of 4.2 percent, Deputy Minister of Economic Development Andrei Klepach told reporters on Saturday.
Klepach explained the revise was based on the weak data in the first half of this year, as the GDP growth in the first six months only reached 3.7 percent.
"If you try to anticipate the yearly figure by extrapolating from this one (3.7 percent), we will have a 3.8-3.9 percent growth by the end of the year," Klepach said.
"But we still presume that there is potential for growth to be tapped in the second half of this year, and the first half's figures could be recalculated as well," he added.
According to Klepach, the ministry also expects Russia's capital outflow to hit 30-40 billion dollars in 2011, instead of an earlier zero capital inflow forecast.
"We will not be able to get a zero capital inflow this year," he admitted, adding that the inflow is expected at the zero level in 2012./.