Economy

Russia's GDP Growth Accelerates to 7.7% in February - Economic Development Ministry

MOSCOW (Sputnik) - The annual GDP growth in Russia has accelerated to 7.7% in February, while the GDP grew by 6% in January-February when compared to the same period last year, the Economic Development Ministry said on Wednesday in its estimate.
Sputnik
"Russia's Economic Development Ministry estimates that GDP in February 2024 was 7.7% year-on-year [more than] a year earlier, after 4.6% [increase] year-on-year in January," the ministry said in a report.
The ministry also noted that, in monthly terms, Russia's GDP grew by 0.2% in February alone, excluding the seasonal factor. "Compared to the same month in 2022, the GDP increased by 4.7% (and by 2% in the month of January)", the report also said.
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