Statistics upgrades Russia’s Jul–Sep GDP fall estimate to 3.4%

MOSCOW, Dec 11 (PRIME) -- The Federal State Statistics Service has upgraded its estimate of Russia’s gross domestic product (GDP) in July–September to a contraction 3.4% from 3.6% and in January–September to 3.4% from 3.5%, the service said in a statement on Friday.

In current prices, Russia’s GDP amounted to 27.941 trillion rubles in July–September, up 13% on the quarter. In July–September, GDP reached 76.547 trillion rubles.

The service raised the GDP estimate by 0.2 percentage points as compared with its preliminary estimate as the companies adjusted their primary statistics and as the central bank provided data on the banking sector.

In January–March, Russia’s GDP grew by 1.6%, and fell by 8% in April–June.

The Economic Development Ministry expects the GDP to fall 3.9% in 2020 and to rise 3.3% in 2021.

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