The gross domestic product (GDP) fell by 4.0 percent in the period from April to June compared to the corresponding quarter of the previous year, as the national statistics office announced on Friday. Economists had expected a sharper decline of 4.7 percent. Economic output has thus fallen back to the level of 2018.
It is the first quarter that is completely shaped by the war against Ukraine that began on February 24th. In the winter quarter, the Russian economy grew by 3.5 percent. As a result, Western countries in particular decided on far-reaching sanctions.
The Russian central bank recently forecast a 7.0 percent decline in economic output for the third quarter. The decline could be even greater in the final quarter.
/jsl/he
MOSCOW (dpa-AFX)
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