Support The Moscow Times!

GDP Growth Promising

Russia's gross domestic product grew 3.2 percent in March year on year, while in the whole of the first quarter the economy grew 4 percent, Economic Development Minister Elvira Nabiullina said Monday.

"The [growth] rate does not look high, but a change of the nature of economic expansion stands behind the numbers," Nabiullina told a meeting at the ministry. "The phase of post-crisis recovery growth is over, accumulation of inventories has stopped."

In February, the economy grew 4.8 percent year on year.


Read more