Economy News

Withdrawal of Russia from its longest recession in 20 years

Russia emerged from its longest recession in 20 years, with the recession ended slightly earlier than the Central Bank of Russia predicted. The Bank of Russia expected that GDP would start to increase only in the second half of 2016, but according to new data growth, it had already recovered by the 1st quarter of 2016.

The early recovery is partly related to a change in the methods of counting military spending, but also the economy recovered early due to the contribution of growing oil prices. The first month of this year showed more signs that Russia in 2017 will show a more tangible macro-economic growth.

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