August 30, 2008

Russian 2007 GDP growth revised to 7.7%-7.8%

RIA Novosti, citing Ms Elvira Nabiullina minister of economic development and trade of Russia, reported that growth of the gross domestic product in Russia in 2007 has been raised from 7.6% to 7.7% to 7.8%.

Ms Nabiullina while speaking at a recent meeting said that the correction was due to the indicator's rapid rise in December of last year, which was 8.4% over that of December 2006.

According to Rosstat, the state statistics service, the volume of the GDP rose 7.8% in the first three quarters of 2007 compared with the same period of the previous year. The Russian GDP rose 6.7% in 2006.