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Protracted Recession
World Economy

Protracted Recession

Russia faces a protracted recession as the impact of western sanctions lingers and oil prices stay low, the World Bank said, RT reported. In a baseline scenario, the bank expected Russia’s GDP to contract by 3.8% in 2015 and a further 0.3% in 2016. The report also describes medium-term growth prospects as dim. “The main challenge for Russia is the continued dearth in investment,” WB said.

 

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