Signs are multiplying that the Russian economy will not die a painful death, but is just taking some long-overdue strong medicine. The country posted unexpected growth in the fourth quarter of 2014 and it can now look beyond oil for drivers of recovery.
Today, the Federal Statistics Service said the Russian economy expanded 0.4 per cent in the final three months of last year, while economists expected zero growth. This could be what traders call a ‘dead cat bounce’: At the end of last year, as the ruble took a plunge in line with the sinking oil price, Russians were hoarding …read more
Source: iPolitics
