Russian Economy to Shrink 4.5%, World Bank Believes Social Crisis Near
March 31, 2009 at 10:32 AM EDT
After nearly a decade of double-digit economic growth, Russia’s economy is facing the prospect of a 4.5% contraction this year that will drive unemployment and poverty to “social crisis” levels, the World Bank said. This is a quick and drastic reversal of the World Bank’s previous forecast of 3% growth in…
