Russia’s 2019 growth outlook remains at 1.3pc: Minister

22nd May, 2019 09:38:37 printer

MOSCOW: Russian economy will grow by 1.3 percent for the year of 2019 as expected, Economic Development Minister Maxim Oreshkin said here on Tuesday, refuting an outlook of recession.

Russia's GDP growth outlook for 2019 remains at 1.3 percent, TASS said, quoting the minister at a briefing, reports Xinhua.

In December, Oreshkin indicated that the ministry forecast Russia's economy would grow by 1.3 percent for the year of 2019.

Russia's GDP grew by 0.5 percent year-on-year in the first quarter of 2019, which was the weakest growth rate since the last quarter of 2016, according to the preliminary data from the country's statistics authorities.