World Bank: Russia’s economy could shrink by 1.8% this year

The Russian economy could potentially shrink by 1.8 per cent in 2014 as a result of the conflict in Ukraine, the World Bank has estimated.

26th March, 2014
The Russian economy could shrink by 1.8% this year, depending on the severity of the impact of the crisis in Crimea

The Russian economy could potentially shrink by 1.8 per cent in 2014 as a result of the conflict in Ukraine, the World Bank has estimated.

The report released today said that the economic outlook for Russia will be “highly dependent” on a recovery in business and consumer confidence and how the geopolitical risks unfold.

The low-risk scenario outlined by the World Bank assumed a limited and short-lived impact of the Crimea crisis and projects slowed...

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