The Ministry of Economic Development reported Russia's first GDP growth of the year in April.
According to the Ministry of Economic Development, the Russian economy grew in April for the first time in a year. GDP increased by 3.3% in annual terms after declining by 0.7% a month earlier, the ministry said in a review on the current situation in the economy.
The ministry added that in the first four months of 2023, the decline in gross domestic product was estimated at 0.6%, but in April the figure increased and with the exception of seasonal factor - by 0.2% after growth of 1.1% a month earlier.
The Ministry of Economic Development forecasts that Russia's GDP growth this year will be 1.2%.