Statistics raises 2017 GDP growth estimate to 1.6% from 1.5%

MOSCOW, Dec 29 (PRIME) -- The Federal State Statistics Service has raised its estimate of Russia’s gross domestic product (GDP) growth in 2017 to 1.6% from 1.5%, the service said on Saturday.

The estimate for GDP dynamics in 2017 was changed to 0.3% growth from a decline of 0.2%.

Economic Development Minister Maxim Oreshkin said earlier that the GDP growth estimate of 1.5% in 2017 would be raised following a significant revision of industrial production growth data.

In June, the statistics service raised its estimate of Russia’s industrial output growth in 2017 to 2.1% from 1%.

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