28.04.2003 14:56:01 Russian economy grows 6.4% in Q1 - ministry MOSCOW. April 28 (Interfax) - The Russian economy grew 6.4% year- on- year in the first quarter of 2003, the Russian Ministry of Economic Development and Trade said in its latest report.
Year-on-year GDP growth was an estimated 6.9% in March alone.
GDP growth was 3% in the first quarter of 2002.
In the first quarter of 2003, industrial output grew 6%, thanks to external factors, in other words higher exports, and internal factors, with a 16%-increase in disposable incomes and 10.2%-increase in investments.
The ministry forecasts GDP growth of 4.5% and output growth of 4.3% this year as a whole.
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