European development bank predicts knock-on effects for eastern Europe and central Asia Russia faces two years of recession as the sharp fall in oil prices adds to the problems of an economy beset by structural weakness, the European Bank for Reconstruction and Development has warned.The EBRD, which was set up following the collapse of communism in the early 1990s, said Russia would contract by 4.5% in 2015 and by almost 2% in 2016, with knock-on effects on neighbouring countries. … …read more
Source: The Guardian
