Russia Monthly Economic Developments, August 2015
Russia’s economy contracted 4.6 percent in the second quarter, year-on-year, after a 2.2 percent contraction in the first quarter, but in June the pace of contraction slowed. Russia’s second quarter balance of payment remained stable despite a weak...
| Main Authors: | , , , , , |
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| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2015
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2015/09/24987077/russia-monthly-economic-developments http://hdl.handle.net/10986/22755 |
| Summary: | Russia’s economy contracted 4.6 percent
in the second quarter, year-on-year, after a 2.2 percent
contraction in the first quarter, but in June the pace of
contraction slowed. Russia’s second quarter balance of
payment remained stable despite a weaker trade balance as
the current account improved and capital outflows moderated.
Receding oil prices and a further cut in the key policy
rates in July brought the ruble exchange rate down to its
lowest level since February. Preliminary poverty statistics
for the first quarter of 2015 show a significant increase in
the number of poor people. |
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