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Russian GDP may contract by 3.8% this year: World Bank

Report cites slump in oil prices and impact of Western sanctions over Ukraine

Moscow

RUSSIA faces a protracted recession as the impact of Western sanctions lingers and oil prices stay low, the World Bank said in a report published on Wednesday. In its baseline scenario, the bank expected Russia's gross domestic product to contract by 3.8 per cent in 2015 and a...

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