MOSCOW – The International Monetary Fund on Tuesday predicted more pain for the Russian economy and gloom around the ex-Soviet region despite positive noises from Moscow that the worst of the crisis might be over.Russia’s economy is expected to shrink by 3.8 per cent this year as sanctions imposed by the West over the conflict in Ukraine and low oil prices push the country deep into recession.Across the wider region – where ex-Soviet nations remain heavily dependent on the Russian economy – the outlook looks grim too as Moscow’s economic woes weigh down its neighbours.”Economic performance in Russia was a …read more
Source: AsiaOne
