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Russian economy expands 8% in first half

(Xinhua)
Updated: 2008-09-10 20:48

MOSCOW - Russia's gross domestic product (GDP) grew 8 percent year-on-year in the first half of this year to reach 19.1 trillion rubles (US$747 billion), the Federal Statistics Service said Wednesday.

The country's GDP amounted to 10.274 trillion rubles (US$401.82 billion) in the second quarter, up 7.5 percent from the same period a year earlier, according to the statistics service.

In the second quarter, fishing, trade, transport and communications, and construction posted high growth, while mineral exploration fell into decline.

The economic ministry predicted that Russia's GDP could grow 7.6-7.8 percent in the whole of 2008, lower than the 8.1 percent recorded last year.