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30 of October, 18:40

The Russian economy has moved to the phase for sustainable growth Summed up with the beginning of the year the GDP growth of the Russian economy.

In the past month was recorded an increase compared to last year's September in the amount of 2.4 percent. August has pleased Russians with a record increase of 2.7 per cent, which, according to the Ministry of economic development is a consequence of accelerating progress in agriculture.

The monthly amount of GDP growth crossed the psychological mark of two percent and is not reduced below this value. In annual terms, GDP growth is 1.8 percent.

Drivers of growth were the manufacturing industry, chemical industry, food production and wood processing.

On the other hand, retail sales in September grew by 3.1 percent compared to last September. And estimated next year, wage growth in the 5 percent to even more stimulate demand.

The Department expects this year's GDP growth will be 2.1 percent.
sections: Economics

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