Russian economy to shrink 4.8% this year: EBRD bank
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LONDON (AFP) - Russia's battered economy will shrink by a far worse-than-expected 4.8 per cent this year, as plunging oil prices add to fallout from the Ukraine crisis, the EBRD development bank forecast Monday.
The London-based European Bank for Reconstruction and Development sharply revised its September prediction for a 0.2-per cent contraction for the economy of key oil producer Russia in 2015.
