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Russian economy slips 0.4% in H1

Russian economy slips 0.4% in H1

Arab Finance: The Russian economy slipped 0.4% in the first half (H1) of 2022 as compared to the same period last year, Reuters reported on August 31st, citing data by the federal statistics service Rosstat.

On the other hand, capital investment, which is a key economic growth driver, increased 7.8%, data showed.

Likewise, capital investment rose by 4.1% in the second quarter (Q2) of 2022 after growing 12.8% in Q1 2022, according to Rosstat.

In July, official unemployment hit a low record of 3.9%, with real wages falling 3.2% year-on-year (YoY), data added.

A top government official stated that the Russian economy would decline by less than 3% in 2022.

 

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