[QODLink]
Europe

Russia enters recession, IMF says

Sanctions imposed on Moscow for its involvement in Ukraine are to blame, according to the financial organisation.

Last updated: 30 Apr 2014 18:52
Email Article
Print Article
Share article
Send Feedback

The International Monetary Fund says Russia is now in recession.

The IMF cut the country's 2014 growth forecast from 1.3 percent to 0.2 percent.

It said a loss of confidence caused by sanctions imposed on Russia by the US and the European Union because of its involvement in the ongoing Ukraine crisis is largely to blame.

Al Jazeera's Nadim Baba reports from Moscow.

62

Source:
Al Jazeera
Email Article
Print Article
Share article
Send Feedback
Featured on Al Jazeera
Muslim volunteers face questioning and threat of arrest, while aid has been disrupted or blocked, charities say.
Six months on, outrage and sorrow over the mass schoolgirl abduction has disappeared - except for families in Nigeria.
ISIL combatants seeking an 'exit strategy' from Mideast conflict need positive reinforcement back home, analysts say.
European nation hit by a wave of Islamophobia as many young fighters join ISIL in Syria and Iraq.
Featured
Lack of child protection laws means abandoned and orphaned kids rely heavily on the care of strangers.
At least 25 tax collectors have been killed since 2012 in Mogadishu, a city awash in weapons and abject poverty.
Since she was 16-years-old, Scottish Nationalist Party's Sturgeon has strove for independence from the UK.
Armed group's ransom success with German hostages marks a re-emergence, as authorities investigate ISIL links.
Western nations are moving into the resource-rich country after decades of disinterest, challenging China's interests.