Russia's GDP Grows by 3.6% Year-on-Year

Estimates from Russia's Ministry of Economy indicate that the country's GDP rose by 3.6% year-on-year in November, compared to 3.2% in the previous month.

In a statement released on Saturday, the ministry reported that GDP increased by 4% from January to November.

Last week, the Russian Central Bank kept its key interest rate unchanged at 21%, postponing further hikes as it struggles to contain inflation driven by government spending on the war against Ukraine.

The decision comes amid criticism from prominent business leaders, including those closely aligned with the Kremlin.

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