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    Russia’s GDP Growth Slows to 2.8% in Aug.

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    Russia’s annualized gross domestic product growth slowed to 2.8 percent in August from 3 percent in July, Deputy Economic Development Minister Andrei Klepach said on Tuesday.

    Russia’s annualized gross domestic product growth slowed to 2.8 percent in August from 3 percent in July, Deputy Economic Development Minister Andrei Klepach said on Tuesday.

    In January-August 2012, Russia’s GDP increased by 4 percent compared with the same period last year.

    Russia’s economy expanded by an annualized 4.9 percent in the first quarter and by 4 percent in the second quarter of the year, according to the State Statistics Service Rosstat.

    Former Russian finance minister Alexei Kudrin said in April GDP growth below 3 percent meant stagnation while the economy’s expansion by 3-4.5 percent suggested weak and unstable growth.

     

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