(MENAFN) Russia's gross domestic product (GDP) grew 0.8 percent in the second quarter, compared to the same period last year, Russian statistics bureau Rosstat, Iran Daily reported.
The announcement was made by Rosstat and is only a preliminary reading. A final, revised calculation will follow, RT reported.
The growth is enough to escape falling into a technical recession (two consecutive quarters of contracted growth) but still disappoints the Ministry of Economic Development's baseline estimate that the Russian economy would grow by 1.1 percent in the second quarter.
In the first quarter of 2014, Russia's seasonally adjusted GDP fell by 0.5 percent. Economy Minister Aleksey said that an optimistic GDP all of 2014 in total will be 1.1 percent, but previously stated that he wouldn't be surprised if growth was negative.
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