MOSCOW (Sputnik) – Russia's GDP declined by 2.7 percent last month on a par with January levels as monthly growth is expected to enter positive territory at the turn of July-August this year, Russian Economic Development Minister Alexei Ulyukayev said Tuesday.
"January had negative 2.7 percent, taking into account the clearances from leap day in February, the figures remained the same," Ulyukaev said in an interview with the Rossiyskaya Gazeta daily, citing industrial production growth.
The ministry said in late February that the Russian GDP registered year-on-year declines of 2.5 percent the previous month.
"At the turn of the second and third quarters we should move to positive territory. This is partially a result of the low base effect last year," Ulyukaev added.
