Russia's GDP grew by 4.6% in second quarter

The gross domestic product of Russia in the second quarter grew by 4.6% year-on-year, and the industrial production index amounted to 2.5% in the first half of the year. This was announced at a meeting on economic issues by Prime Minister Mikhail Mishustin. “According to the year's first half results, we reached positive values for all key indicators. The economy has adapted to the current challenges and shows fairly stable growth. What is especially significant is based on domestic demand. First of all, thanks to the decisions previously taken at the president's initiative, the Government's prompt actions in coordination with the Bank of Russia,” he concluded.

He noted that manufacturing industries mainly contributed to the index of industrial production. Only in June, this sector grew by 13% year-on-year.

“The positive dynamics of the economy lead to an improvement in the budget situation. Over seven months, non-oil and gas revenues grew by about 20% in July - more than a third.

Oil and gas revenues are also actively rising. According to the results of July, by almost 5% compared to last year, exceeding the figure approved by the budget rule by 73 billion rubles. We expect they will continue to grow in the coming months,” Mikhail Mishustin said.