Russia’s GDP in the first half of the year decreased by 0.4%
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Russia’s GDP in the first half of 2022 decreased year-on-year by 0.4%, follows from Rosstat data.
According to the latest assessment of the department, in the second quarter of 2022, the decline in the Russian economy amounted to 4%, in the first quarter, an increase of 3.5% was recorded.
The Ministry of Economy earlier improved most of the forecast indicators for 2022: the economy is expected to decline by 4.2% against 7.8% earlier, and real incomes by 2.8% against 6.8%. The forecast for next year’s GDP, on the contrary, worsened – a decline of 0.5% in the first half of the year.
At the end of July, the Ministry of Economic Development estimated the decline in Russia’s GDP in the II quarter at 4% compared to the same period last year, and for the first half of the year – 0.5%. According to the Minister of Economic Development Maxim Reshetnikov, the overall situation is better than predicted in the spring.
Prime Minister Mikhail Mishustin said earlier that the situation in the Russian economy was stabilized thanks to joint decisions of the government and the Central Bank. At the same time, in his opinion, the financial system under the conditions of sanctions needs “serious adjustment”.
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