Russian Economy Slows Down
The Russian economy is experiencing a slowdown. According to Rosstat, growth in the second quarter is at 4 percent. Reports indicate that the main contributors to this economic growth were wholesale trade, which rose by 8.3 percent year-on-year in the second quarter, as well as retail trade and manufacturing, both increasing by 7.3 percent.
However, this growth represents a decline compared to the first quarter of 2024, when the annual GDP growth rate for Russia was recorded at 5.4 percent, as reported by Kommersant. Reuters notes that billions of dollars and euros continue to flow into Russia despite ongoing sanctions.
