Russian economic growth slows down

Russian economic growth slows down

Russia's Ministry of Economic Development disclosed that the country's economic growth slowed from 7.4% in the first quarter of 2004 to 4.9% in the first quarter of 2005. In March alone, GDP (Gross Domestic Product) growth rose 5.1% from a year earlier. The Ministry expects GDP growth to be 6.5% in 2005. In 2004, Russian economy recorded a growth of 7.1%.