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Russia enters recession as GDP falls by 4% amid Ukraine war: Report | World News

Russia enters recession as GDP falls by 4% amid Ukraine conflict: Report | World Information

AFP | | Posted by Lingamgunta Nirmitha Rao

Russia’s financial system has entered a recession as gross home output fell by 4 % within the third quarter, in keeping with first estimates revealed Wednesday by the nationwide statistics company, Rosstat.

Additionally Learn | Poland, NATO say missile touchdown wasn’t Russian assault

The drop follows an analogous 4 % contraction within the second quarter, as Western sanctions pummel Russia’s financial system following Moscow’s offensive in Ukraine.

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