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According to the first data published by Rosstat, in the 1^st quarter 2010 the GDP of Russia increased 2.9% as compared to the same period last year. With investment activities still in decline and consumer demand being sluggish, the main factor behind the growth was the expansion of the exports.

According to the preliminary data of the Ministry of Economic Development of the Russian Federation, in the 1^st quarter 2010 the GDP of Russia increased by 4.5% as compared to the same period last year with a 9.4% decline registered a year before.  

Ministry of Finance of Russia and Ministry of Healthcare and Social Development of Russia started to prepare amendments to the legislation on compulsory health insurance, executing the instruction of the RF Prime Minister¹. This instruction is aimed at implementation the government's decision² to increase since 2011 mandatory social insurance contributions of organizations are not up to 32%, as suggested earlier by the Ministry of Finance of Russia, but up to 34%, was planned by the developers of the Federal Law № 212-FZ of July 24, 2009.

Recently the Federal Assembly approved the law on the increase of government guarantees volume in the law on the budget for 2010 and for the planning period of 2011-2012 for credits and bonds attracted by legal entities chosen according to the procedure established by the RF Government to fulfill investment projects – from RUR 100 billion to RUR 175 billion at the expense of the volume which was not used in 2009. 

On April 29, 2010 the Bank of Russia announced that starting with April, 30 the refinancing rate is again reduced from 8.25% to 8% per annum. Simultaneously, the RF Central Bank has decreased by 0.25 p.p. the interest rates on instruments of liquidity to the banking sector and the deposits attracted from credit agencies. 

In order to fulfill the agreements reached during the meeting of the President of Russia, D. A. Medvedev, and President of Ukraine, V. Yanukovich, on the discount for the Russian gas at the rate of USD 100, the price being USD 330 per 1 thousand cu m, the price for gas for Ukraine in the 2nd quarter 2010 will make USD 236 per 1 thousand cu m, taking into account the discount. 

On April 27, 2010 in Washington, on the eve of another round of negotiations on Russia accession to the World Trade Organization (WTO). I.Shuvalov, the First Vice-Premier said that Russia intends to continue the process of joining the organization on its own, rather than as a member of the Customs Union (CU) with Belarus and Kazakhstan.

According to the survey of FBK auditing and consulting company, in 2009 Russia was ahead of the European Union in terms of real wages share in GDP. 

For the Russian economy this year will be better than expected: GDP growth was estimated at 3.3%, but it will be about 4%, according to A.L. Kudrin, the Vice-Premier, Minister of Finance.

At the conference of the Russian Union of Industrialists and Entrepreneurs (RSPP) "Human capital as a means of the economy modernization" held on April 13, 2010, a report was made by M.D. Prokhorov, President of Onexim Group, Chairman of the RSPP in Labor Market, with proposals to reform labor legislation, which caused a broad resonance in the business press.

The index of industrial production in Russia in the I^st quarter of 2010 as compared with the I quarter of 2009 amounted to 105.8 and 89.9 against the IV quarter of 2009.

On April 14, 2010, the RF President has signed a Decree “On the National Strategy for counteraction of Corruption and the National Anti-Corruption Plan for 2010-2011”¹. The Decree has approved the National Strategy for Counter-Corruption in the Medium Term, as well as the Proposed New Edition of the National Plan to Combat Corruption.

On April 12, 2010, in the framework of the Russian Business Week, the VIII Conference of the Russian Union of Industrialists and Entrepreneurs on Tax Issues¹, at which S.D. Shatalov, Deputy of the RF Minister of Finance has presented new ideas on the development of the investment tax credit, which can be addressed, among other objectives, for the additional support of innovative enterprises. Currently the challenge is that this institution of tax administration practically does not work.

By results of March inflation in Russia measured with the use of CPI accounted for 0.6%. 

With its Resolution of March 29, 2010, № 187, the RF Government increased export duties on oil and oil products effective as of April 1, 2010.

The preliminary results of 2009 proved the earlier voiced assumptions of negative effects the crisis had on the privatization processes.