On July 1, the European Council extended the economic sanctions against Russia for six months. Russia eased its economic sanctions against Turkey.
The 12-month Consumer Price Index edged up to 7.5 percent in June from 7.3 percent in May, as base effects pushed up food inflation. A strong decline in fixed investment dominated the demand composition of GDP growth during the first quarter of 2016.
Poverty improved slightly in the first quarter of 2016, while unemployment remains elevated.
The privatization of government shares in the state-owned diamond producer is underway and others are expected to follow later in 2016.