Russia Says Economy Past Low Point After Slump Intensified
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Russia’s slump deepened in the second quarter, with the government expressing confidence that the economy remains on track to pull out of recession.
Gross domestic product probably shrank 4.4 percent from a year earlier, Economy Minister Alexey Ulyukayev told reporters on Monday in Brest, Belarus, citing his ministry’s preliminary estimates. GDP fell 2.2 percent in the first quarter, the first drop since 2009.