Russian Economy Slows Sharply As Consumer Demand Falls Amid VAT Hike
(World News Russia)

Russia´s economy slowed sharply in the first quarter, with the government placing the blame on reduced consumer demand following an unpopular hike in the value-added tax (VAT). The Russian statistic service Rosstat on May 17 said gross domestic product (GDP) rose just 0.5 percent in the first three months of 2019 from the same period a year earlier. The figure was the lowest...