Azerbaijan news
Economic decline has begun in Russia – LATEST SITUATION |
Russia the latest state of the economy has been announced.
Yearly in the country inflation It is around 12-13%. The economic decline will be 2% annually until the end of this year. Consumption decreased by 4%.
Russia Officials say that the peak of the decrease in consumption has passed in the 2nd quarter. Next year, the consumption volume will increase again. Instead, the peak of the decline in investment will occur in the fourth quarter of this year and will continue from the beginning of 2023. Import of consumer goods has almost recovered due to parallel import.
The engineering industry is at risk of declining employment and wages. The volume of consumption imports decreased by 3%, and investment imports decreased by 17%.