The numbers are worse than than those of the Great Recession, at least in the United States. Russia’s gross domestic product fell 3.7% last year, according to the official news agency Tass.
The government hinted the problem will not persist, although that is hard to imagine.
Russian Economic Development Minister Alexey Ulyukayev told reporters today that the tendency for falling GDP did not persist in December 2015, according to preliminary information today that the tendency for falling GDP did not persist in December 2015, according to preliminary information.
Not likely.
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