The decline in Russia's GDP slowed in October to 4.4% year-on-year after falling by 4.5% in September; the economy declined by 2.1% year-on-year in January-October, the Ministry of Economic Development said in a report
MOSCOW (Pakistan Point News / Sputnik - 30th November, 2022) The decline in Russia's GDP slowed in October to 4.4% year-on-year after falling by 4.5% in September; the economy declined by 2.1% year-on-year in January-October, the Ministry of Economic Development said in a report.
The ministry also adjusted its estimates for the decline in GDP in September to 4.5% from the previous 5%, as well as for previous months. According to the document, in August, the GDP decline amounted to 3.5% (against 4% in earlier estimate), in July - 3.9% (4.3%), in June - 5.1 (5%) , in May - 3.9% (4.5%), in April - 3.3% (2.7%). In March, the Russian economy grew by 1.5% (1.4%), in February - by 4% (4.2%), in January - by 5.9% (5.7%).
The dynamics of Russia's GDP are close to the predicted trajectory, the contraction of the economy is still projected at 2.9% this year.
