A chart in a central bank report showed GDP shrank on a sequential basis in the first and second quarters, meeting the definition of a technical recession.
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"We also think there's a significant probability of Russia's economy slipping into a technical recession in the coming quarters."
Record-low unemployment and ultra-hot inflation have put Russia “on the brink” of a recession, its economy minister said.
A wartime boom in Russia has given way to sluggish growth, tax hikes and squeezed public services. Will it affect the conflict in…
ST. PETERSBURG, Russia: Russia’s economy is “on the brink of going into a recession,” the country’s economy minister said…
Hit by falling oil revenues and Western sanctions, growth in the country has slowed while the budget deficit has exploded.
The head of state also noted that Russia is still far from entering a recession, as indicated by the labor market situation
