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Russia's GDP expands 4.1% in Q1


Post Date: 18 May 2011    Viewed: 440

Russia's gross domestic product (GDP) has grown 4.1 percent year-on-year in the first quarter of 2011, the Federal Statistics Service (Rosstat) said in a Monday statement.


"In the first quarter of 2011, the physical volume of gross domestic product compared to the same period of 2010 amounted to 104.1 percent to preliminary estimates," the service said in a statement, adding that it will give more details about Russia's Q1 GDP growth in the middle of June.


However, the growth was slower than a previous forecast of 4.5 percent from the Economy Ministry.


In April, Russian Prime Minister Vladimir said Russia's GDP was projected to grow at about 4.2 percent this year, adding that the forecast meant that by early 2012 "the Russian economy will fully recover losses caused by the crisis."


In 2010, Russia recorded a 4-percent GDP growth after the worst recession in decades with its economy shrinking 7.9 percent in 2009.

 


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