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Russia's economy shrank by 2% in Q1, says PM Medvedev

Wednesday, April 22, 2015 - 05:50


PRIME Minister Dmitry Medvedev on Tuesday estimated that the Russian economy shrank by 2 per cent in the first quarter due to sanctions pressure and low oil prices.

If confirmed, that would be the first quarterly contraction since 2009. Mr Medvedev warned lawmakers the