The Ministry of economic development revealed a sharp growth of the Russian economy

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The Russia’s GDP growth in may accelerated to 3.1% compared with 1.7% in April, reports the press service of the Ministry of economic development. In January-may 2017 of Russia’s GDP, according to the Ministry, increased by 1.3% in annual terms.

“A significant positive contribution to GDP growth in may made all the main sectors of the economy – manufacturing and mining, wholesale and retail trade, and construction. For Jan-may GDP growth is estimated at 1.3%”, – stated in the message.

According to Rosstat, in the first quarter, GDP grew at an annual rate of 0.5%. The economy is growing the second consecutive quarter in the fourth quarter of 2016, GDP grew by 0.3%, and within two years was reduced.

However, real disposable monetary incomes of the population in may has decreased on 0,4% in comparison with the same period last year. Similar income for the period January-may 2017 decreased by 1.8% compared to last year.

Note that record for 5 years, the growth coincided with the subordination of Rosstat, the Ministry of economic development, the head of which had previously criticized the report of the statistical Agency for January-February 2017.

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