Russian recession continues
The international economic downturn might gradually be coming to a halt. However, that is not the case for Russia, the OECD believes.
According studies from the Organisation for Economic Cooperation and Development (OECD), the economic recession in key countries is coming to a halt, and improvements are now registered all over the OECD area. Those signals could possibly mean that the countries have reached the bottom of the current recession, newspaper Vedomosti reports.
However, Russia is among the exceptions.
An OECD analyst says to Vedomosti that the Russian economic indexes are negative and that there are no signals about any economic improvement the first two-three months.
The drop in Russian GDP the first quarter of the year was 9,8 percent which is even worse than the previously estimated 9,5 percent. Russian officials believe the economy will see a revival in the last part of the year. However, experts remain sceptical to that forcast, Vedomosti writes.
