JRL NEWSWATCH: “More controversy as Rosstat upgrades Russian GDP growth to a six-year high” – bne Intellinews/Ben Aris

Cash, Calculator, Pen

“More questions were raised over the veracity of the Russian State Statistical Service’s (Rosstat’s) results after it upgraded its estimates of growth in the construction sector that led to a revision of 2018 growth from 1.6% to 2.3% – the best result in six years …. Russia is emerging from a ‘silent crisis’ … caused by the collapse of oil prices at the end of 2014, and the 2.3% growth figure would be the best … since 2012, the same year as the petro-driven economic growth model was exhausted and saw growth sink to zero in 2013, even before the clash with the west … and the first sanctions … in 2014. …  [T]he accuracy of Rosstat’s results have been questioned …. The head of Rosstat was fired at the end of last year and the agency was taken under the direct control of the Ministry of the Economy ….”

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