Statistics: Russia’s GDP rises 0.5% in January–March

MOSCOW, May 17 (PRIME) -- Russia’s gross domestic product (GDP) rose 0.5% on the year in January–March, in accordance with a preliminary estimate, the Federal State Statistics Service said in report on Wednesday.

The central bank expected the GDP to grow 0.2–0.4% in the period. Excluding the calendar factor, the increase would be 1%.

The Economic Development Ministry estimated a 0.4% economy’s growth in January–March, excluding the calendar factor, and an acceleration of the growth in the following quarters, Minister Maxim Oreshkin said earlier.

The central bank’s GDP forecast for 2017 implies a 1.0–1.5% rise.

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