IMF lowers forecast growth for Russia to 0
Photo Courtesy: PTI
Moscow: The International Monetary Fund stated that Russia is already in recession and slashed its growth forecast for 2014 citing the effect of the Ukraine crisis on investment.
"If we define recession as negative growth in two quarters in a row, then Russia from that point of view is experiencing recession," IMF economist Antonio Spilimbergo was quoted as saying by the Interfax news agency. IMF has lowered its 2014 growth forecast for Russia to 0.
( Source : PTI )
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