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Russia's GDP down 8.1% year-on-year in October

Russia's GDP down 8.1% year-on-year in October
 Russia's GDP down 8.1% year-on-year in October  - Sputnik International
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Russia's GDP decreased by 8.1% year-on-year in October, the Economics Ministry said on Monday.

MOSCOW, November 23 (RIA Novosti) - Russia's GDP decreased by 8.1% year-on-year in October, the Economics Ministry said on Monday.

However, Oleg Zasov, acting director of the ministry's macroeconomic forecasting department, said GDP has been growing month-on-month for the past five months, and was up 0.3% in October against September.

Russia's GDP declined 8.9% in July-September 2009 compared with the same period of last year, the statistics service Rosstat said.

The Economics Ministry expects the national economy to shrink 8.5% in 2009, but to grow 3% in 2011 and 4.3% in 2012.

 

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