Russia's GDP sees significant growth in first quarter

Russia's GDP sees significant growth in first quarter
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In the first quarter of this year, Russia’s GDP expressed in physical terms has grown by 0,5% compared with the same period last year.

This is what the Federal State Statistics Service (the Rosstat) of the Russian Federation announced on Wednesday.

We should remind you that following the results of year 2016, a decline in GDP accounted for 0,2%. Then, Russian President Vladimir Putin assigned to develop measures that should result in outpacing Russian economy’s growth rates of global indicators at the turn of 2019-2020.

For his part, the head of the Economic Development Ministry of the Russian Federation Maxim Oreshkin predicted that the growth of Russia's GDP in the I quarter of 2017 in annual terms would reach 0.4% and did not rule out a 3.1-percent rate in 2020.