November 28, 2018 / 2:05 PM / 11 days ago

Russian economy ministry sees rouble weakening gradually in long term

MOSCOW, Nov 28 (Reuters) - The Russian economy ministry, in a set of forecasts until 2036 released on Wednesday, said it expects the rouble to weaken gradually and economic growth to pick up after 2019.

The rouble rate will average 61.7 against the dollar in 2018, 63.9 in 2019 and 75.2 in 2036, the ministry forecasts. The rouble traded at 67.27 against the dollar on Wednesday .

Gross domestic product growth is expected to exceed 3.0 percent in 2021, up from 1.8 percent seen this year, the ministry said.

The economy ministry also said it forecasts Russia’s oil production will total 549 million tonnes this year, 557 million tonnes in 2019 and 562 million tonnes in 2020.

Russia is expected to export 255.7 million tonnes of crude oil in 2018, 257.7 million tonnes in 2019 and 259.2 million tonnes in 2020, the forecast envisages. (Reporting by Darya Korsunskaya Writing by Andrey Ostroukh Editing by Polina Ivanova)

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