The Russian economy has been teetering on the brink of recession for months as financial authorities take actions to slow growth in a bid to avoid runaway inflation. Russia in Q1 of this year suffered its first quarterly GDP contraction since 2022. Although official Q2 GDP figures are not yet available, most analysts estimate growth to be about 0%, meaning Russia narrowly avoided a technical recession, which would require two consecutive quarters of GDP decline.
Economist Dmitry Polevoy estimates the growth in Q2 to be “near zero after seasonal adjustment,” while Bloomberg said that the Russian economy “slightly grew quarter-on-q
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