MOSCOW, Oct 2 (PRIME) -- The Federal State Statistics Service has confirmed contraction of Russia’s April–June gross domestic product (GDP) at 8%, the service said in a statement on Friday.
“The volume of GDP stood at 23,288.2 billion rubles in the second quarter of 2020. In physical terms, GDP contracted by 8% as compared with the same period of the previous year,” the statement read.
Previously, the service said that the usual tendencies and comparisons of macroeconomic figures used in preliminary estimates changed in April–June and that later calculations by another method may lead to adjustments of the physical amount of GDP in the period.
In September, the Economic Development Ministry improved its expectations for the decrease of Russia’s GDP in 2020 to 3.9% from 4.8%, and it expects the GDP to rise 3.3% in 2021.
(77.2774 rubles – U.S. $1)
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