Russia's Jan GDP drops 3.2% after 4.2% slump in Dec

Kitco Media
By Reuters
Published:
Updated:
Reuters
MOSCOW, March 1 (Reuters) - Russia's economy contracted by 3.2% in January, following on from a 4.2% drop in December, the economy ministry said on Wednesday, casting the more limited decline as evidence of a continued recovery.


Russia's economy proved unexpectedly resilient in the face of Western sanctions last year, but a return to pre-conflict levels of prosperity may be far off as more government spending is directed towards the military. (Reporting by Darya Korsunskaya; Writing by Alexander Marrow and Angus MacSwan)

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