Russian economy growing

RUSSIA / FSU POLITICS - In Brief 14 Nov 2019 by Alex Teddy
The Russian Statistical Agency (Rosstat) claimed that the Russian economy grew up 1.7% in 3Q of this year. This is a considerable improvement on Q2 when the figure was 0.9%. These statistics are to be treated with caution. Rosstat has a reputation for inflating positive figures. A new head of Rosstat was appointed last year with a mission to bring rigor and credibility to statistics. The Russian Ministry of Economic Development is openly sceptical about the data.The healthiest sectors are agriculture which grew 5.1% y-o-y and wholesale trade which was 3.8% y-o-y. Much of this figure is due to gas sales. However, manufacturing is slowing.

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