Ministry: Russia's GDP rise decelerates to 4.7% in July

MOSCOW, Sep 2 (PRIME) -- Russia's gross domestic product (GDP) growth decelerated to 4.7% on the year in July after 8.9% in June, the Economic Development Ministry said in a statement late on Wednesday.

"The GDP, as estimated, remained higher than the pre-pandemic level (plus 0.4% to the fourth quarter of 2019, seasonally adjusted). The GDP rise compared to July 2020 amounted to 4.7% on the year (plus 0.4% to July 2019), in January–July it stood at 4.8% on the year (plus 1.1% to the first seven months of 2019)," the document read.

The ministry also changed the estimate for GDP growth in June to 8.9% from 8.5%.

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