MOSCOW (AP) — Russian Prime Minister Dmitry Medvedev has warned that the country faces a risk of a “deep recession” if the government ditches its spending plans.
Speaking at a meeting of his party, Medvedev said Tuesday that the government won’t retreat from its strategic aims and social spending. Otherwise, he said Russia could plunge into a “deep recession.”
He also said the Russian economy is in a worse place now than in the 2008 crisis because “a number of countries are effectively hampering the development of our economy.”
With oil prices sliding, Russia’s energy-dependent economy is suffering. One manifestation of that has …read more
Source: KXAN
