By Rhod Mackenzie
The Russian economy has adapted to the current challenges and has shown fairly stable growth based on domestic demand. GDP in the second quarter grew by 4.6%, industrial production in June increased by 13% yoy, and non-oil and gas revenues showed an increase of 20% in seven months, Russian Prime Minister Mikhail Mishustin said at a meeting on economic development.
“According to the results of the first half of the year, we reached positive values for all key indicators. Thus, the gross domestic product, according to the Ministry of Economic Development, increased by 1.5%, and in the II quarter of this year - already by 4.6%. The dynamics in industrial production was even more active. According to the results of the first half of the year, it added about 2.5%. Here, you know, the main contribution was made by manufacturing industries, where growth exceeded 6%. If we take June separately, then this figure reached 13% in annual terms, ”the press service of the Cabinet of Ministers Mishustin quotes.
He also noted that the positive dynamics in the economy is already affecting the budget. In January-July, non-oil and gas revenues grew by 20%, and in July - by more than a third. Oil and gas revenues in July were almost 5% higher than last year, exceeding the figure approved by the budget rule by 73 billion rubles.