Russia’s GDP Goes Down 0.5%

UrBC, Moscow, October 26, 2016. Russia’s GDP shrank by 0.7% in the nine months of the year and by 0.5% in the third quarter of 2016; the figure is expected to come to 0.6% by the end of the year, RIA Novosti refers to Deputy Economic Development Minister Alexei Velev as stating.

‘The country’s GDP declined by 0.5% in three months and by 0.7% in nine months since January. Our forecast is a 0.6% decrease by the end of the year,’ he said.

According to Rosstat, Russia’s GDP went down by 0.9% in the first half of 2016, by 0.6% in the second quarter, and by 1.2% in the first quarter of the year.


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