Russia’s GDP increased in April by 2.6% in annual terms, versus 2% in March, said Deputy Minister of Economic Development Andrei Klepac. In January-April, the country’s GDP grew by 1.8% in annual terms.
GDP growth accelerated in April to 2.6% in annual terms. In March the figure was 2%. This was stated by Deputy Minister of Economic Development Andrei Klepac at a briefing in Moscow.
With the exception of seasonal and calendar factors, GDP rose in April by 0.1% to a record in March after the March growth of 0.4%.
"Evaluation of April: April compared to April last year — 2.6%, taking into account seasonal and calendar factors — a small growth of 0.1%. Actually, any major fracture trend has not happened yet. And this is connected with the base industries in the first place, "- said Klepac.
MAYOR refine the estimate of GDP for the I quarter. Given a calendar and seasonal factors in the past quarter GDP increased by 0.2% to a record in the IV quarter of last year. "In principle, it is still within the stagnation" — said the deputy minister.
In April the Ministry of Economic Development has worsened the main macroeconomic forecast for the current year. Forecast for GDP growth dropped from 3.6% to 2.4%. According to the Federal State Statistics Service, Russia’s GDP in the I quarter grew by 1.6% in annual terms.
As for industrial production, the growth in the industry, stripped of seasonal and calendar factors, in I quarter amounted to only 0.3%, much less than the Federal State Statistics Service, which estimated growth of 0.9%. This is due to the difference in the method of removal of seasonality in the industry, said Klepac.
According to estimates of the Ministry, the growth in the extractive industries in April was 1% in the manufacturing sector recorded a decline of 0.9%.
In the production and distribution of electricity, gas and water in April marked the zero growth (with the exception of seasonal and calendar factors.) "In this regard, a serious turning point in the industry has not yet happened. Conversely, some worrying trends persist," — said Klepac.
Investments in fixed capital in April fell to a record in March by 0.7%, and with the exception of seasonal and calendar factors — by 1.6%. "In this sense, the negative in April. This corresponds to the negative of the construction, in which the decline in April was 2.1%," — said the deputy minister.
"The investment process is still the weak spot. Moreover, when we talked about this before, then it was about the negative dynamics of public investment, a certain effect of the negative dynamics of infrastructure monopolies, such as" Gazprom "and a number of others (companies — Ed.).
What is now happening is probably due to the risks and the fact that private investment is not compensated, "- said the deputy minister. This investment data for the I quarter and first half of the year" is always highly conditional and investments, as they say, always considered for the winter. "
Consumer demand rose in April, with the exception of seasonal and calendar factors, retail sales in April increased by 0.2%. "It’s slower than in March, but the dynamics of the normal. Behind this is the growth of wages in real terms," — said Klepac.
"So in general we can say that the pause in growth and stagnation in industry trends and investment remain. Including remains weak and imports. Fracture, which we discussed, we expect in the second half," — concluded Deputy Minister.