Russia forecasts 7.8 pct GDP contraction in 2022


By Shi Hao
  • World
  • Wednesday, 18 May 2022

MOSCOW, May 17 (Xinhua) -- The Russian Ministry of Economic Development on Tuesday expected the country's gross domestic product (GDP) to decease by 7.8 percent year on year in 2022.

Investment in fixed assets could nosedive by 19.4 percent and the retail trade turnover may plummet by 8.7 percent this year, a representative of the ministry told reporters.

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