Statistics service upgrades Russia’s Q1 GDP fall to 1.8%

MOSCOW, Jun 15 (PRIME) -- The Federal State Statistics Service has upgraded its estimate of Russia’s gross domestic product (GDP) in January–March to a 1.8% contraction from a 1.9% decrease, the service said in a statement on Thursday.

Russia’s GDP in current prices amounted to 35.999 trillion rubles in January–March, the service said.

The adjustment was made due to additional data on the consolidated budget of Russia and state non-budget funds in the period that the Federal Treasury provided to the statistics service.

The Economic Development Ministry expects the GDP to grow by 1.2% this year, while the central bank forecasts a growth of 0.5–2%.

(84.3249 rubles – U.S. $1)

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