ZCZC
BCN-37
RUSSIA-ECONOMY-GDP
Russian GDP up 1.7 pct in January-October
MOSCOW, Nov. 22, 2018 (BSS/Xinhua) – Russia’s gross domestic product (GDP)
rose 1.7 percent year on year in January-October, the Russian Economic
Development Ministry said on Wednesday.
The ministry said in its monthly review that it estimated GDP growth in
October at 2.5 percent compared with a year ago, up from 1.1 percent in
September.
The growth hike in October was primarily due to an increase of 11.9 percent
in agricultural production, compared with drops in previous months, it said.
The ministry expects Russia’s GDP to expand 1.8 percent this year, down
from a previous projection of 2.1 percent but still up from 1.5 percent in
2017.
The Russian economy has been recovering from years of recession as the
prices of energy Moscow heavily relies on are on a trend of rebounding.
Russian President Vladimir Putin said earlier this month that he believed
the country’s economy was on the rise along with expanding industrial
production.
BSS/XINHUA/HR/1430