NOVO-OGARYOVO (near Moscow), August 21 (RIA Novosti) - Russia's gross domestic product grew 8% in July and 7.9% in January-July 2007, economics minister German Gref said Tuesday.
"Within industrial production, processing industries grew 12.5% in July, and production of mineral resources increased by just 1.5%," implying that "processing industries are the main driver of economic growth," the minister told a meeting between the president and the Cabinet.
Gref said the agricultural sector grew by 3.2% in July, while trade gained 14.7%.
He also said the country's international reserves had expanded by $112.5 billion in the first seven months of the year.
"International reserves have exceeded $420 billion. The index stood at $416 billion as of July 1, and now totals $420 billion," the minister said.
