Russia adjusts 2009 GDP forecast to 8.5% drop from 6-8% fall

MOSCOW, June 29 (RIA Novosti) - The Russian Economic Development Ministry has downgraded its GDP forecast for 2009, predicting an 8.5% drop, not the previous 6%-8% fall, a government source said on Monday.

The move was caused by the country's poor economic performance in May, the source said, adding that the ministry predicted GDP to grow 0.1% in 2010, 1.5% in 2011, and 3.2% in 2012.