The government said rescue measures introduced would begin to yield results by the end of the second quarter. Late last year, the government pledged a total of 325 billion rubles ($11.7 billion) to prop up the real economy badly hit by the global financial crisis.
Russian exports will see a 45% decline and investment will fall 13.8% in 2009, the government said.
"GDP growth could decline 4-5 percentage points," the document said.
The Economic Development and Trade Ministry said on Wednesday budget spending would decline 1% year-on-year to 3.1% of GDP and reiterated that industrial growth would drop to 7.4%.
Steelmakers, producers of construction materials, machine-building and wood processing companies, and light industry will be among those hardest hit in 2009, according to the ministry.
