IMF: Russia already in recession

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RussiaMoscow

Moscow - The International Monetary Fund said Wednesday that Russia is already in recession as its economy suffers massive capital outflows over the Ukraine crisis.

“If we define recession as negative growth in two quarters in a row, then Russia from that point of view is experiencing recession,” IMF economist Antonio Spilimbergo was quoted as saying by the Interfax news agency. - Sapa-AFP



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