News: Russian Economy Nears Recession

Jberg

Quote:

The Russian economy is nearing recession, officials said Tuesday, with punishing Western sanctions over the Ukraine conflict set to keep growth at ultra-low levels and drive up inflation.

"The economy is close to recession," said Oleg Zasov, the head of forecasting at the economy ministry, according to Russian news agencies.

The ministry held its forecast at growth of just 0.5 percent this year, compared with 1.3 percent in 2013.

A month ago, it had defiantly predicted growth of 1.0 percent when the West imposed its first sectoral sanctions over Moscow's support for pro-Russian rebels fighting in eastern Ukraine.

But it has now slashed its forceast for 2015 in half, also to 1.0 percent.

http://news.yahoo.com/sanctions-hit-...151602644.html

aphdkd

Kiiiiiii

DayFusion

Mezter

Solopop

Good!

Rascal

I feel sorry for the decent Russian citizens having to suffer

Harrier

I wish I cared, maybe they'll get rid of Putin soon.

NewRihannaStan

Horrible

Swine

0,5% growth is still not that close to a recession imo. Most European countries have about the same growth this year (with some countries being lower and some countries about the same).

But a big difference of course is that Russia is already a pretty poor country, this 'war' is seriously ruining their economic development. How are they going to keep up with East-Europe and China now? Well, probably not. They're extremely stupid with this and don't realize that a bigger economy equals more might, and that you do not need to invade countries to have might these days.

antoine_

I'm kinda glad.They love to bash countries like England,Finland,Holland and Germany and I think they will kiss their asses.And they should get rid of the parasite and Hitler look-like by actions Putin.He is the main reason for Russia's downfall.Russians thinks their culture is above others,even though they are poor and getting poorer.

Bríseis

As a direct effect of the economic sanctions against Russia and their response to it, my country and many other EU countries are already suffering too. Its been only a month since the sanctions were raised and many of our companies are facing serious problems and might be heading to bankrupcy. Governments of many EU countries are asking for refunds or compensations from Brussels, but its already clear that it will be not able to do so in full. That means the recession will sooner or later affect the whole EU.

How can people be happy from this situation is beyond me. Oh ATRL