The decline in Russia's gross domestic product (GDP) in September slowed down to 3.3 percent year-on-year after falling by 3.7 percent in August, the Russian Economic Development Ministry estimates
MOSCOW (Pakistan Point News / Sputnik - 20th October, 2020) The decline in Russia's gross domestic product (GDP) in September slowed down to 3.3 percent year-on-year after falling by 3.7 percent in August, the Russian Economic Development Ministry estimates.
"Monthly GDP growth rates during the third quarter showed an upward trend: according to estimates, in September 2020, the fall slowed to minus 3.3 percent year-on-year compared to minus 3.7 percent year-on-year in August and minus 4.4 percent year-on-year in July," the ministry said.
Russia's economy shrunk just 3.8 percent year-on-year in the third quarter of 2020, compared to 8 percent fall in April-June 2020, it said.
The decline in GDP for 9 months of 2020 is estimated at 3.5 percent in annual terms, it said
