Russian economy expands 1.6 pct in January-September

MOSCOW, Nov. 20 (Xinhua) -- Russia's gross domestic product (GDP) grew 1.6 percent year-on-year in the first nine months, the country's official statistic service Rosstat said Monday, citing preliminary data.

Russia's GDP declined 0.4 percent year-on-year in the same period compared a 1.8 percent rise in the third quarter this year, Rosstat said in a release.

Russia's central bank currently puts the country's GDP growth at 1.7-2.2 percent for the year of 2017, while the Russian Economy Ministry expects it to be 2.1 percent.