The Bank of Russia lowered benchmark rates again on Friday and denied the economy is in a recession, even after its own data showed GDP has been shrinking this year.The latest cut brought rates down … [+2899 chars]
Russia's central bank reveals GDP is shrinking, in a sign Putin's war economy has slipped into recession - Fortune
A chart in a central bank report showed GDP shrank on a sequential basis in the first and second quarters, meeting the definition of a technical recession.
By:Jason Ma
Source:Fortune
Published:
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