Central bank: Russia’s GDP falls 9.5–10% in April–June

MOSCOW, Jul 15 (PRIME) -- Russia’s gross domestic product (GDP) has contracted by 9.5–10% in April–June, the central bank’s research and forecasting department said in a research note on Wednesday.

“Taking into account some improvements in the economic situation in June as compared with May, we estimate a fall in output in baseline industries at 8.5–9.0% year-on-year in April–June. Our estimates show that it corresponds to a 9.5–10.0% decrease in GDP year-on-year in the second quarter,” the report read.

The department’s calculations may not be in accord with the official position of the regulator.

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