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Russia’s GDP may grow by 0.8%

April 03, 2014, 18:41 UTC+3 MOSCOW

Earlier, Russia's GDP growth rates projected to be 0,4%

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Andrei Klepach

Andrei Klepach


MOSCOW, April 03. /ITAR-TASS/. Russia’s gross domestic product (GDP) may grow by about 0.8% in the first quarter of this year compared to 0.4% projected earlier, Deputy Minister of Economic Development Andrei Klepach said on Thursday, April 3.

The forecast was revised following changes in the Federal Statistics Agency’s quarterly GDP growth data for 2013.

At the same time, Klepach believes that the GDP growth potential may decrease in the short term if the government fails to take steps to spur the economy.

The Federal Statistics Agency (Rosstat) reported earlier that GDP had grown by 2% in the fourth quarter of 2013 (1.4% in the previous forecast), by 0.8% in the first quarter of last year (initial projection was 1.6%); by 1% in the second quarter (1.2% projected earlier); and by 1.3% in the third quarter (1.2%).

Russia’s GDP in 2013 was $1.9 trillion (66,7 trillion roubles). Rosstat had previously estimated GDP at $ 1.9 trillion (66,6 trillion roubles).

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