Minister: Russian GDP contracts 0.5% in Q1 2014 from Q4 2013

GMT 10:42 2014 Wednesday ,16 April

Arab Today, arab today Minister: Russian GDP contracts 0.5% in Q1 2014 from Q4 2013

Arab Today

Russia's economy shrank by 0.5 percent in the first quarter of 2014 from output in the final quarter of 2013, a minister said on Wednesday in comments highlighting the risk of a recession due to the standoff in Ukraine. Economy Minister Alexei Ulyukayev said that the economy grew just 0.8 percent in the first quarter of 2014 from activity in the same period last year, but contracted 0.5 percent from the fourth quarter after seasonal adjustment, Russian news agencies reported.

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