By Olga Razumovskaya
MOSCOW--Russia's gross domestic product slowed to 3.4% in 2012 from 4.3% the previous year, the Federal Statistics Service reiterated in its second GDP estimate Tuesday.
The figure is slightly below the preliminary estimate from the economy ministry, whose deputy head said in January the country's GDP probably expanded around 3.5% in 2012.
The Bank of Russia had estimated 2012 GDP growth was 3.5%-4.0%.
Russia's economic expansion is slowing after a decade of rapid growth before 2009. Central bank and finance ministry officials have said sluggish growth is the most the country can achieve without bold economic reforms. While President Vladimir Putin has urged the government to target a 5% economic growth rate, the government expects growth this year to be just a notch higher than last year.
--Alexander Kolyandr contributed to this article.
Write to Olga Razumovskaya at olga.razumovskaya@dowjones.com
MOSCOW--Russia's gross domestic product slowed to 3.4% in 2012 from 4.3% the previous year, the Federal Statistics Service reiterated in its second GDP estimate Tuesday.
The figure is slightly below the preliminary estimate from the economy ministry, whose deputy head said in January the country's GDP probably expanded around 3.5% in 2012.
The Bank of Russia had estimated 2012 GDP growth was 3.5%-4.0%.
Russia's economic expansion is slowing after a decade of rapid growth before 2009. Central bank and finance ministry officials have said sluggish growth is the most the country can achieve without bold economic reforms. While President Vladimir Putin has urged the government to target a 5% economic growth rate, the government expects growth this year to be just a notch higher than last year.
--Alexander Kolyandr contributed to this article.
Write to Olga Razumovskaya at olga.razumovskaya@dowjones.com
