Russia’s economy grew by 4.4 percent year-on-year in the first six months of 2012© RIA Novosti. Ruslan Krivobok
MOSCOW, August 20 (RIA Novosti)
Russia’s economy grew by 4.4 percent year-on-year in the first six months of 2012, the Federal State Statistics Service (Rosstat) reported on Monday.
Rosstat’s GDP estimate coincided with the half-year figure published by the Economic Development Ministry in July.
Russia’s economy expanded by an annualized 4.9 percent in the first quarter and by 4 percent in the second quarter of the year, according to Rosstat.
In January-June 2011, Russia’s GDP grew by 3.7 percent.
Economic Development Minister Andrei Belousov has previously said Russia's economic growth in January-June 2012 was facilitated by a fast rise in investment and rapid output expansion in manufacturing.
In April the Economic Development Ministry cut its forecast for Russia’s economic growth in 2012 from 3.7 percent to 3.4 percent.
The ministry said in June it could revise its GDP growth forecast upward by this fall from 3.4 percent to 3.7-4 percent.
Add to blog
You may place this material on your blog by copying the link.
Image Galleries: Monkeys from Borneo and Other Animal News
Infographics: The Origin of Geomagnetic Storms
Cartoons: Dreams of Space
The failure of the Islamist political parties who came to power in the dramatic events of the Arab Spring would allow the military to reenter the political arena. Political Islam was successful in the opposition, but it could fail in power, as the negative experience of Egypt and Iraq have shown.