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Russia's GDP up 7.8% y-o-y in second quarter

MOSCOW, September 11 (RIA Novosti) - Russia's gross domestic product grew 7.8% year-on-year in April-June 2007, reaching 7.648 trillion rubles ($298 billion), the Federal Statistics Service said Monday.

In the second quarter of last year GDP grew 7%, and in the first quarter of 2006 rose 5%.

The first deputy chairman of the Central Bank, Alexei Ulyukayev, said earlier this month that annual GDP was expected to grow 7.5% in 2007, up from an earlier forecast of 7.2%. The World Bank forecasts Russia's 2007 GDP growth at 7%.

In January-July the economy grew 7.9% year-on-year.