Russia’s gross domestic product (GDP) rose by 1.4 percent year on year in the first quarter of this year, according to preliminary data published by the Federal State Statistics Service (Rosstat).
The preliminary data fell short of earlier predictions made by the Russian Economic Development Ministry and the Russian Central Bank, which estimated a rise of 1.7 percent and 2 percent year on year, respectively.
For the whole-year GDP, the Russian Economic Development Ministry expects a growth of 2.5 percent while the Russian Central Bank forecast an increase of 1 percent to 2 percent.
