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  Wednesday, June 3, 2020
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German Gref said the Gross Domestic Product had grown 5.9 percent in the first ten months of this year
Russian Economic Development and Trade Minister German Gref said the Gross Domestic Product had grown 5.9 percent in the first ten months of this year, while inflation was at 9.9 percent in the designated period. The GDP's growth in October made up 6.2 percent compared with the same period last year; its growth in the first ten months of this year totaled 5.9 percent," Gref reported to President Vladimir Putin at a meeting on Thursday. "We'll be keeping within the framework of projections for the rest of the year - at 5.9 percent, but 6 percent are possible," he said. Industrial growth in October made up 3.5 percent /3.9 percent in the first ten months of 2005/. Trade and investments during this period increased, respectively, by 11.8 percent and 9.9 percent. The real incomes of the population have been growing faster than the inflation rate. They increased 10.2 percent in October and posted a 9.4-percent increase in the first ten months of this year. Inflation grew 0.6 percent in the first three weeks of October. "We are expecting it to pace at 0.8 to 0.9 percent in October, while the accumulated inflation in the first nine months and 21 days will total 9.9 percent," Gref said. Russia's annual inflation rate will amount to 11.2 to 11.5 percent, according to the minister.
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