The Russian economy shrank 3.6 percent in the third quarter, improving by more than half from the eight-percent drop during the previous quarter, when the government shut down the economy to try to contain the Covid-19 outbreak.
The preliminary results of the July-September quarter, presented by Russian state statistics agency Rosstat, were slightly better than some of the previous government estimates. According to the Ministry of Economic Development, Russia’s GDP dropped 3.8 percent over the same period.
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