Russian econ ministry foresees 2011 GDP growth of 4%-4.5% - Klepach
MOSCOW. July 21 (Interfax) - Russia's Economic Development Ministry expects the country's gross domestic product will grow from 4% to 4.5% this year, Deputy Economic Development Minister Andrei Klepach told the press.
The ministry's official forecast for GDP growth in 2011 is 4.2%. The ministry calculates GDP expanded 3.9% year-on-year in the first half.
"In the second half, we expect a quickening of GDP growth with increased investment and from the standpoint of demand. Secondly, with growth in agriculture. In the third and fourth quarters of last year there was drop in agriculture and now there will be substantial growth in it," Klepach said.
Klepach could not say whether the 4.2% growth forecast would be adjusted. "I'm not prepared to say if we will get to 4.2% or a little higher or a little lower. There is a varying spectrum of estimates - from 4% to 4.5%. We will present a firmed-up forecast at the end of August," he said.