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Belarus slams new US economic sanctions There are different figures emerging, but all contain the same message – Russia’s economy is going to shrink dramatically this year.
The World Bank said the annual contraction will be 7.9 percent, the Organisation for Economic Cooperation and Development reckons it will be 6.8 percent and Russia’s First Deputy Prime Minister Igor Shuvalov believes – with global demand for commodities slumping – it could reach nine percent. In the first quarter, the Economy Ministry estimated GDP was down 10.2 percent.More about: Economy, RussiaCopyright © 2012 euronews
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latest economy news
EU-Argentina trade friction increases- Eurozone citizens back common currency
- Athens stock market plunges
- Euro tumbles on German weakness
- UK economy in worse state than feared
- Foreign investors shun Italy and Spain
- IMF tells Britain ‘must try harder’
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- UK inflation eases
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