6 Apr 2012 12:44

Econ ministry drops 2012 GDP growth forecast to 3.4% - minister

MOSCOW. April 6 (Interfax) - Russia's Economic Development Ministry has lowered its forecast for GDP growth this year to 3.4% from the earlier 3.7%, Economic Development Minister Elvira Nabiullina said during a joint collegium meeting of her ministry and Belarusian Ministry of Economy in Moscow on Friday.

Investment in fixed capital is projected to grow 6.6% (previously 7.8%).

The prediction for retail trade, however, is increased from 5.5% growth to 6.3%.

Inflation is still expected to run from 5% to 6% this year.