Russian Growth May Accelerate to 6% as Oil Climbs, RenCap Says

Russia’s economy may expand next quarter at the quickest pace since 2008 as companies boost investment and higher oil prices help the government ramp up spending before national elections, Renaissance Capital said.

Gross domestic product may grow an annual 6 percent in the second quarter, the Moscow-based investment bank said today in a report. That would be the fastest expansion since the third quarter of 2008. Growth in the first three months of 2011 may be 4.3 percent, down from a previous forecast of 4.7 percent, RenCap said.