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  Thursday, July 18, 2019
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Russia's gross domestic product grew 7.4% in July
Russia's gross domestic product grew 7.4% in July, year-on-year, the country's economic development and trade minister said Thursday. "According to preliminary estimates, based on State Statistics Committee figures, GDP grew 7.4% in July, compared with the same period last year," German Gref said. "This enables us to increase GDP growth rates 6.6% in 2006." He said industrial production in July grew slowly - 2.9%, compared with the same period last year. Russian Prime Minister Mikhail Fradkov said Thursday GDP grew 6.3% in the first six months of 2006, year-on-year. "The results of the first six months show that virtually all principal macroeconomic indicators have improved, compared with the same period last year," he said. He said investment in fixed assets grew 9.4% in January through June, while real household income growth during this period exceeded 11%. Fradkov said the contribution of the oil and gas sector to economic growth will decline, while that of machine building, science and communications will grow.
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