The review of the Ministry of Economic Development of Russia showed that the Russian economy recorded growth in the first five months of this year by 0.5% year on year.
Russia’s GDP recorded growth between January and May 2022, despite declines of 2.8% and 4.3% in April and May 2022, respectively, according to the ministry.
The Russian Ministry reported in a review “on the current situation in the Russian economy” that “Russian GDP in May 2022 decreased by 4.3%, and in April 2022 there is still an increase of 0.5%.”
The Ministry cited transport and logistics restrictions and a decline in domestic demand in Russia as the main reasons for the decline.
Source: RIA Novosti