Moscow 13 Aug, Moscow : Moscow, Aug 13 : Russian Economy shrank by a large amount in the spring because of sanctions imposed by Western sanctions according to official figures published in Moscow.Gross domestic product (GDP) declined by 4.0 percent in the period of April to June in comparison to the comparable period of previous year.the dpa news agency reported on the country’s statistics office on Friday.
Analysts had predicted a more dramatic decline of 4.7 percent.
The output of the Economy has therefore slowed to levels of the year.
The second Quarter of the year was the one that was completely changed by the conflict against Ukraine which started on the 24th of February.
In the end, Western countries in particular took a decision to impose severe sanctions on Moscow.
In the winter Quarter the Russian Economy increased by 3.5 percent.
The Russian central bank has recently predicted that there would be a 7.0 percent drop in economic output for the third Quarter of.
This decline may be larger in the last quarter.