Russian Economy May Expand Annual 3% This Quarter, RenCap Economists Say

Russia’s gross domestic product may increase 3 percent this quarter from the same period last year as government spending bolsters industial output, Renaissance Capital said.

GDP may advance 0.9 percent from the second quarter, RenCap said in a report today, raising its previous forecast from 0.7 percent.

“The main positive growth drivers appear to be related to a direct impact of the government’s efforts to reinvigorate the economy,” economists led by Alexei Moisseev said in the report.

To contact the reporter on this story: Paul Abelsky in Moscow at pabelsky@bloomberg.net

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