Russia's economic growth rate in May

Wednesday, January 27, 2021

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Russia's economic growth rate in May increased with respect to the rate for March and April, according to Russian Vice-Minister Alexander Zhukov. He made the remarks Friday during a conference entitled 'Corporate Management and Economic Growth in Russia.' According to Zhukov, economic growth during the first quarter of 2004 totaled nearly 8%. He said that during the first five months of this year, the growth rate was also no less than 8%, but that during the months of March and April 'the tempo slowed somewhat. During the second half of April and May, however, the growth rate increased again.' Economic growth is tied to investments and the demands of the domestic market, Zhukov said. In January-April, investments grew by 13% compared to the analogous period the previous year. 'If previously economic growth was tied to favorable external circumstances, then now it is tied to internal demand,' he said.

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