Experts say Russian regions are rapidly becoming poorer
The growth of the Russian economy for the last three fiscal quarters at the federal level, which Rosstat (Russian Federal State Statistics Service) has been reporting about, is still not visible in most regions, Rosbalt.ru news website writes citing experts from Russia’s National Research University Higher School of Economics.
As reported in “Comments on the State and Business,” nearly 60% of the territories of the Russian Federation are in a recession. This is the second month in a row that the economy continues to deteriorate outside the federal center. In April, the composite index of regional economic activity dropped from 49 …read more