The Russian economy grew by 1.3% in 2019, according to initial data from the country’s statistical office. This is slightly higher than analysts’ expectations at the end of 2019, which predicted that Russia’s gross domestic product will increase by 1.2%. The central bank expected the economy to grow by no more than 1.3%.

The gross domestic product data have been closely monitored by the market, as Russia’s sluggish economic growth issue has become central recently and has attracted the attention of President Vladimir Putin, who has directed the government to find ways to accelerate the economy.

“These are initial estimates as we do not yet have complete data”, said Pavel Malkov, head of Rosstat’s statistical office, as he presented the 2019 data on growth. “They may change in the future when Rosstat receives more information”, added he.

Rosstat has revised the data in the past, usually receiving a more positive tone. For example, at the end of 2019, the Statistical Office revised GDP growth data, changing Russia’s economic growth trajectory for 2018 from 2.3% to 2.5%.

Rosstat reports that it reports GDP growth five times and revisions make the numbers more accurate. The GDP growth is expected to accelerate over the next few years thanks to government investment in major infrastructure projects, which are set to grow from 2% to 3% by 2022, the central bank estimates.

Russia’s economy is expected to grow 1.8% this year, below the World Bank’s 2.5% forecast for the global economy, according to economists surveyed at the end of January.