Russian GDP falls by four percent in second quarter of 2022

World

Published: 2022-08-12 20:53

Last Updated: 2022-10-03 17:07


Source: The Moscow Times
Source: The Moscow Times

Russia's gross domestic product (GDP) declined by four percent in the second quarter of 2022 compared to the same period a year ago, according to official estimates published Friday that reflect the repercussions of economic sanctions imposed on Moscow following its military operation in Ukraine. 

Statistics agency "Rostat" announced in a statement that the gross domestic product amounted to "96% (of its value) in the same period in 2021." 

These are the first numbers to cover an entire quarter since the start of the Russian offensive on Ukraine in late February.