Russia suffered a smaller contraction than most major economies in 2020 after the government opted not to reimpose a lockdown in the second half of the year.
Gross domestic product contracted 3.1% last year, the biggest slump since 2009, Russia’s Federal Statistics Service said Monday. The contraction was softer than expected by economists, who forecast a 3.7% drop in a Bloomberg survey. The Economy Ministry had projected a decrease of 3.9%.
