RUSSIA FALLS INTO RECESSION: STATISTICS AGENCY

News Desk World

Wed 16 November 2022: 

Russia’s economy has entered a recession as gross domestic output fell by four percent in the third quarter, according to first estimates published Wednesday by the national statistics agency, Rosstat.

The drop follows a similar four percent contraction in the second quarter, as Western sanctions pummel Russia’s economy following Moscow’s offensive in Ukraine.

NEWS AGENCIES

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