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externalBloomberg: War sets Russian economy back 4 years in a quarter

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August 12, 2022 8:09 amby The Kyiv Independent news desk

Twelve analysts offer a median forecast of a 4.7% drop in Russia’s GDP in the second quarter, Bloomberg reported on Aug. 11. The drop would bring the economy to its 2018 indicators, but this decline is smaller than previously expected. The central bank predicts worsening in the quarters to come, with fiscal stimulus and monetary easing in recent months “blunting the impact of international sanctions.”

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The Kyiv Independent news desk
Author:  The Kyiv Independent news desk
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