Russia’s GDP Grows 4% in Q1

Russia’s gross domestic product grew at an annual rate of 4 percent in the first quarter of 2012, down from of the 4.9 percent estimate reported by the Federal Statistics Service Rosstat, according to data on the government’s website on Wednesday.

“In the first quarter of 2012, GDP amounted to 12.869 trillion rubles [$402 billion] and expanded by 4 percent from the same period last year,” the data said.

In mid-May, Rosstat reported Russia’s GDP had expanded 4.9 percent on an annual basis in January-March 2012, exceeding the 4 percent initial estimate of Russia’s Economic Development Ministry.

According to Rosstat data, Russia’s GDP grew 4.3 percent last year, with a first quarter rise of four percent year-on-year.


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