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Russia's gross domestic product (GDP) grew by an estimated
Russia's gross domestic product (GDP) grew by an estimated 8% in the first six months of 2008, the Economics Ministry said on Monday.

World oil prices, which have been hovering above $130 per barrel, have given a strong boost to the Russian economy.

"According to our estimates, GDP growth stood at 8% in the first six months and at 6.5% in June 2008 compared with June 2007," Andrei Klepach, deputy economic development minister said.

According to the ministry's latest forecast, Russia's GDP is expected to grow 7.6-7.8% in 2008 compared with 8.1% in 2007.


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