Econ minister: Russia’s GDP growth to exceed 2% in Jul–Dec

HANOI, May 22 (PRIME) -- Russia’s gross domestic product (GDP) growth may exceed 2% on the year in July–December, Economic Development Minister Maxim Oreshkin told reporters on Monday.

Russia’s GDP grew 0.5% on the year in January–March, according to data of the statistic service. Adjusted for calendar factors, the growth amounted to 0.9–1.0%, according to Oreshkin.

“The base effect is good. We expect that growth rates will be stronger every next quarter…The second half of the year will be more than 2%. But we should understand that the fourth quarter is “weighing” much higher than the first quarter,” the minister said.

The ministry has not changed its forecast for 2017 and expects a 2% growth for the entire year, he also said. “The first quarter gives grounds to expect a 2% growth for 2017. Our forecast doesn’t change and we see no reasons to change it.”

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