Russian GDP declines around 2% in 11M, unemployment down to 3.7% in Nov - Mishustin

MOSCOW. Dec 28 (Interfax) - Russia's GDP declined by about 2% in January-November 2022, while unemployment fell to a historic low of 3.7% in November, Prime Minister Mikhail Mishustin said at a government meeting.

"At today's government meeting, summing up the preliminary results of the year in the economy, we can say that the negative forecasts of many experts, Western analysts have not materialized," he said.

"According to the Economic Development Ministry, the decline in GDP in 11M was only about 2% year-on-year," the prime minister said.

"The situation in the labor market remains stable. In November, unemployment reached a historic low of 3.7%," Mishustin also said.