Russia's economic growth lowest among BRIC: report

Russia's economic growth was the slowest among the BRIC countries, which also groups China, Brazil and India, Moscow's Vedomosti daily reported Friday.

According to Russia's statistical agency Rosstat, Russian gross domestic product (GDP) rose in the second quarter of 2010 by only 5.2 percent year-on-year, while China's GDP rose by 10.3 percent, India's by 8.9 percent and Brazil's by 11.3 percent.

However, over the period, the Russian economy grew faster than the United States (3.2 percent), Japan (1.9 percent), Germany (3.7 percent) and France (1.7 percent), the newspaper reported.

The latest global crisis hurt Russia not solely due to a drop in oil prices in 2009 but as a result of a late anti-crisis response by the government, a poor investment climate and bad macro-management, experts said.

[Source: Xinhua, Mowcow, 20Aug10]

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