Econ ministry: Russia’s GDP grows 1.1% in Apr, 1.0% in Jan–Apr

MOSCOW, May 28 (PRIME) -- Russia’s seasonally unadjusted gross domestic product (GDP) increased 1.1% on the year in April, in January–April the GDP increase stood at 1.0%, Deputy Economic Development Minister Andrei Klepach said Wednesday.

“The economy began to rise in April. Investments rose, while retail shrank, both figures seasonally adjusted. This is an improvement but not a sustainable one,” Klepach said.

The seasonally adjusted GDP grew 0.1% in April.

Klepach said separately that he does not rule out that Russia-dedicated funds see a net inflow in April–June because Russian companies will pay dividends. “The characteristics of second quarter, the dividend payment, makes outflow impossible, but there will be an outflow in the third and in the fourth quarters,” Klepach said.

Chairwoman of the central bank Elvira Nabiullina said earlier in May that in April the net outflow, including swaps, amounted to U.S. $4.6 billion. In January–March local funds registered a $63 billion outflow.

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