25 Jul 2013 14:53

Russian GDP grows 1.7% in H1 2013, zero industrial growth - Ulyukayev

MOSCOW. July 25 (Interfax) - Russia's gross domestic product grew 1.7% in H1 2013 and industrial output growth was zero, Economic Development Minister Alexei Ulyukayev said during a Thursday government meeting.

"Our GDP [growth] is slowing: we are currently 1.7% up on last year. And industrial growth is practically zero," Ulyukayev said.

"Investment activity is negative. Net exports are down. The only indicator that is playing any sort of a simulating role is income growth, and that is due to higher public sector income," Ulyukayev said.