Russian economy stops declining

Russia’s gross domestic product (GDP) demonstrated a zero year-on-year growth August after a 0.8% decline in July, the Economic Development Ministry said in a statement on Monday.

Seasonally adjusted GDP rose 0.3% on the month in August. In January – August, the economy contracted by 0.7% on the year.

The Economic Development Ministry forecasts a 0.6% economic decline in Russia in 2016. It was 0.9% in January – June, but there was a quarterly slowdown to 0.6% in April –June from 1.2% in January – March, PRIME reports.