London (AFP) – Russia’s economy will contract next year as a result of the crisis with Ukraine, the EBRD development bank forecast on Thursday after slashing its prediction for growth.Ukraine’s economy will meanwhile contract faster than expected, in turn weighing on other emerging economies in the region, the European Bank for Reconstruction and Development said in its latest outlook report.Russia’s economy will contract by 0.2 percent in 2015, the EBRD said after predicting in May that it would expand by 0.6 percent next year. The bank, founded in 1991 to help ex-Soviet bloc countries such as Russia and Ukraine make …read more
Source: Business Insider
