Russia’s economy saw a 4.9% GDP growth in the second quarter, after experiencing four consecutive quarters of contraction, Bloomberg reports.
This growth has been attributed to increased defense spending boosting industrial production and rising consumer demand.
Economists predict that Russia’s GDP could return to pre-war levels by as early as next year, despite international sanctions.
However, there are concerns about labor shortages due to the military draft and potential economic challenges with the weakening of the ruble.
