Rosstat: Russian GDP in the I quarter increased by 1.6%

Russian GDP in the I quarter increased by 1.6% on an annualized basis, according to Rosstat. In this case, economic growth continues to slow down.

In particular, the country's GDP in the I quarter of 2012 increased by 4.8% in the II quarter — by 4.3% in the III quarter — 3% in the IV quarter — by 2.1%.

However, preliminary data of Rosstat for GDP growth in the I quarter were better than prior calculations of Economic Development, which assessed the growth of GDP in the I quarter of 1.1%.

Economic Development believes that the downturn in the Russian economy in the II quarter stops in the second half of the economic growth will exceed 3%.

Earlier, the mayor lowered the GDP growth forecast for 2013 from 3.6% to 2.4%. In 2012, the Russian economy grew by 3.4%.

On Thursday, the government adopted a basis for a moderately optimistic scenario of socio-economic development of Russia in the years 2014-2016. In this scenario, the country's GDP in 2014 will grow by 3.7% in 2015 — by 4.1%, in 2016 — by 4.2%. Investment in fixed assets will increase in 2014 by 6.6%, in 2015 — by 7.2%, in 2016 — by 7.6%.

Conservative variant of the forecast called for GDP growth of 3% a year, forced variation — more than 6% annually.

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