Russian economy to enter recession in 2015

Related Content Related Video Related Articles

The Russian Ministry for Economy has downgraded its forecast for the next year, GDP is now set to shrink by -0.8%, compared to an earlier forecast of 1.2% growth.

The Russian economy has been hit by economic sanctions and falling oil prices. The Ruble fell by 2.41% upon publication of the news, the currency has been on a downward trajectory for the past five months.

The Russian Ministry for Economy also adjusted its forecast for the persistence of Western Sanctions, it previously anticipated them to until mid-2015, sanctions are now expected to last into 2016.

Mona Dohle
Mona Dohle speaks German and Dutch and is DACH & Benelux Correspondent for InvestmentEurope.

Read more from Mona Dohle

Close Window
View the Magazine

You need to fill all required fields!