Russia's GDP in the first quarter of 2017 increased in comparison with the corresponding period of last year by 0.5 percent. On Wednesday, reported Federal state statistics service.
At the end of April the head of the Ministry Maxim Oreshkin predicted that the growth of Russia's GDP in January-March will amount to 0.4 per cent in annual terms to clear the calendar factor.
In the middle of the month, the Bank of Russia worsened expectations for GDP growth in the first quarter of 2017 compared with the fourth quarter last year from 0.6 to 0.5 percent. The forecast for the second quarter also dropped from 0.8 to 0.6 percent.
In April the HSE expert said, in early 2017, Russia's economy after a brief recovery was again stagnant. "The effects of the recession 2015-2016 has not yet been overcome, and a model of sustainable long-term growth is also not yet formed", they say.
On target forecast in 2018 Russia's economy will increase by 1.7 percent in 2019, is 2.5%. Under the baseline scenario, the growth rate will be less than 1.5 per cent in the year 2018-2020.
In 2016, the decline of Russia's GDP was 0.2 percent in 2015, the economy contracted 3.7 percent.