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Russian Economy Rebounds in Second Quarter

Russia's economy has passed its pre-coronavirus size. Sophia Sandurskaya / Moskva News Agency

Russia's economy rebounded in the second quarter as the country recovers from the effects of the coronavirus pandemic, official figures showed Friday.

The gross domestic product (GDP) grew by 10.3% compared to the same period last year, with strong gains in passenger transport, retail trade and mining, according to the federal statistics agency.

The economy had contracted in the first three months of the year.

Russia imposed just one lockdown in the spring last year but has kept its economy open since then.

The move limited last year's economic contraction to 3.1%, faring better than European countries that imposed more and longer lockdowns.

But Russia, like other countries, is facing a spike in inflation which is worrying officials ahead of legislative elections in September.

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