Russian economy shrinking 2,2 percent
A new government forecast indicates that the Russian economy will shrink 2,2 percent this year. That is far worse than the estimates made only
“The GDP forecast has worsened to minus 2,2 percent,” Deputy Economic Development Minister Andrei Klepach said, the Moscow Times reports with reference to Interfax. The previous estimates from the ministry was a 0,2 percent recession. Also wage arrears — a cause of social unrest in the 1990s — jumped nearly 50 percent last month, affecting half a million people, the Moscow Times writes.
