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May 17 (Reuters) - Russia's economy shrank 1.9% year-on-year in the first quarter of 2023, data from the Rosstat federal statistics service showed on Wednesday, following growth of 3% in the same period of last year.
Russia's economy defied early expectations of a double-digit collapse in 2022, but still contracted 2.1% after the West imposed sanctions in response to Moscow despatching troops to Ukraine in February.
The economy ministry this month estimated that gross domestic product (GDP) had fallen 2.2% in the first quarter, while the central bank has predicted a 2.3% decline. That follows a 2.7% drop in the fourth quarter of last year, according to Rosstat data.
www.reuters.com
Russia's economy defied early expectations of a double-digit collapse in 2022, but still contracted 2.1% after the West imposed sanctions in response to Moscow despatching troops to Ukraine in February.
The economy ministry this month estimated that gross domestic product (GDP) had fallen 2.2% in the first quarter, while the central bank has predicted a 2.3% decline. That follows a 2.7% drop in the fourth quarter of last year, according to Rosstat data.
Russian economy shrank 1.9% in first quarter, statistics service says
Russia's economy shrank 1.9% year-on-year in the first quarter of 2023, data from the Rosstat federal statistics service showed on Wednesday, following growth of 3% in the same period of last year.
