BOFIT Viikkokatsaus / BOFIT Weekly Review 2016/20
After the release of Rosstat’s GDP figure for the first quarter, Russia’s economy ministry estimated that seasonally adjusted GDP contracted 0.2 % q-o-q in the first quarter. Portraying figures reliably is hard, however, due to the fragmentation of Rosstat’s GDP time series. This is because Rosstat is recalculating its GDP statistics moving back through time from the present. The recalculations use methodologies that are based on more updated international recommendations than those applied earlier.
Most of the latest forecasts estimate Russian GDP will shrink 1.2‒1.3 % this year. The economy ministry’s projection of a contraction of 0.2 % is among the most favourable.
Russian GDP growth
Source: Rosstat.