YEREVAN, April 20. / ARKA /. Russia's economy may grow by up to 2.5% next year, deputy finance minister said Monday, Russian news agencies reported. Speaking to reporters on a visit to Washington DC, Maxim Oreshkin said Russia's gross domestic product may grow by 1.5%-2.5% in 2016.

"I personally think that we could see growth pace higher than in 2013, thanks to ongoing changes linked to the exchange rate and GDP structure," Oreshkin said.

Russia's economy slowed to 0.6% last year.

The World Bank and the International Monetary Fund, who met Russia's finance ministry delegation over the weekend, had both said that economic contraction this year would be deeper than the government forecast. The economy will continue contracting in 2016, the global institutions predicted earlier this month.

Oreshkin also said the annual inflation rate should slow to below 11% by the end of 2015. The government had earlier said 2015 inflation was seen at around 12%, far above the central bank's target of 4%.-0-