Russia’s GDP up 0.6 pct in first 5 months

Moscow, Russia | XINHUA | Russia’s economy is steadily recovering from the impact of sanctions and other challenges with a GDP growth of 0.6 percent in the first five months of this year, Russian Prime Minister Mikhail Mishustin said late on Tuesday.

During a meeting with President Vladimir Putin, Mishustin said the Russia’s economy grew by 5.4 percent in May from a year earlier, and is expected to grow by more than 2 percent this year if there are no unforeseen circumstances.

Putin pointed out that the IMF’s forecast for Russia economic growth was 0.7 percent this year, compared with 1.5-1.9 percent projected by the Russian Ministry of Economic Development.

“The official estimate is still lower, but we will update it in August and I am sure it will exceed 2 percent based on the parameters we see,” Mishustin said. ■