Russia risks recession amid crisis
AFP, Moscow :
Russia’s economy shrank by 0.5 percent in the first three months of 2014 from the previous quarter, a minister said Wednesday, fuelling concerns the Ukraine crisis could tip it into recession.
Economy Minister Alexei Ulyukayev said that Russia’s economy grew just 0.8 percent in the first quarter of 2014, compared to activity in the same period last year.
But it contracted 0.5 percent versus the final three months of 2013, after seasonal adjustment, Russian news agencies quoted Ulyukayev as telling parliament.
Russia’s economy shrank by 0.5 percent in the first three months of 2014 from the previous quarter, a minister said Wednesday, fuelling concerns the Ukraine crisis could tip it into recession.
Economy Minister Alexei Ulyukayev said that Russia’s economy grew just 0.8 percent in the first quarter of 2014, compared to activity in the same period last year.
But it contracted 0.5 percent versus the final three months of 2013, after seasonal adjustment, Russian news agencies quoted Ulyukayev as telling parliament.