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Russian Economy  to Shrink
World Economy

Russian Economy to Shrink

The Russian economy ministry slashed its economic forecast for 2015, announcing a contraction of 0.8% due to the pressure of western sanctions over the Ukraine crisis and falling oil prices, AFP reported. “The current forecast is based on a drop in the GDP by 0.8% in 2015 against the previous forecast of growth by 1.2%,” deputy economy minister Alexei Vedev said.

 

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