Min: Russia’s Q1 GDP rises 0.8%, seasonally adjusted falls 0.5%

MOSCOW, Apr 16 (PRIME) -- Russia’s seasonally unadjusted gross domestic product (GDP) went up 0.8% in January–March due to a low base effect, while the GDP cleared of seasonality decreased 0.5%, Economic Development Minister Alexei Ulyukayev said Wednesday.

“The economic situation has become even more strained than before. A high degree of uncertainty on the foreign exchange and financial markets, a serious capital outflow and the lack of investor readiness to make decisions in the tough international situation of the last two months added to the local factors,” Ulyukayev said.

The consumer demand increased 3.2%, and real wages rose 4.2% on the year, but according to Ulyukayev state employees accounted for almost all salary growth, with almost no growth in in the private sector.

Fixed capital investment shrank 4.8%, and both private and state investment fell in a warning sign as last year only state and infrastructure monopolies’ investments went down, he said.

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