MOSCOW (Reuters) – The Russian economy declined by 4.0% year-on-year in the second quarter of 2022 after a 3.5% rise in the previous three months, the economy ministry said on Wednesday.
The first quarter was expected to have been the last with sound growth before the Russian economy took a hit from sweeping sanctions for Moscow’s decision to send troops into Ukraine on Feb. 24.
The ministry also said the economic decline deepened to 4.9% year-on-year in June after a fall of 4.3% in May.
(Reporting by Reuters; Editing by Chris Reese)
