Open Demo Account
Home / Market Update / Russia’s GDP Contracts 8.5% in Q2 of 2020

Russia’s GDP Contracts 8.5% in Q2 of 2020

M. Ali 12 August, 2020 2:05 am Market Update

The Russian economy contracted by 8.5% on an annual basis during the second quarter (Q2) of 2020, official data showed on Tuesday.

The economic downturn came amid the coronavirus (COVID-19) outbreak, with lockdowns and preventive measures casting their shadows economic activities.

Next year, Russia’s gross domestic product (GDP) is expected to decline by 4.5% to 5.5%, with the economic recovery set to take place in 2022.

Tags

Check Also

ExxonMobil

Oil Giants ExxonMobil and Chevron Face Profit Plunge as Crude Prices Tank

Energy titans ExxonMobil and Chevron reported significant profit declines for the second quarter, driven by …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends