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Russia sees GDP up 0.4-0.7 y/y in Q1
March 24, 2017 / 3:40 PM / 9 months ago

Russia sees GDP up 0.4-0.7 y/y in Q1

MOSCOW, March 24 (Reuters) - Russian economic indicators show signs of recovery, which may push gross domestic product higher by 0.4-0.7 percent on the year in the first quarter of 2017, the central bank said on Friday.

After a prolonged period of contraction, capital investment, which is considered to be one of the key economic drivers, may increase by 1-3 percent in the first three months of this year compared with a year ago, the central bank said.

In a revised set of economic forecasts, which the central bank presented after cutting the key rate to 9.75 percent, it said a price of barrel of crude oil was expected to average $50 this year and $40 in 2018 and 2019. (Reporting by Andrey Ostroukh; Editing by Polina Devitt)

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