Publication: Russian Economic Report, No. 35, April 2016: The Long Journey to Recovery
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2016-04-08
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2016-04-08
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Russia’s anticipated economic recovery was delayed. In 2015 the Russian economy began its difficult adjustment to the severe global oil-price shock and the imposition of economic sanctions in 2014. The impact of these twin shocks drove Russia’s economy into a deep recession, which reached its nadir in the second quarter of 2015. Following a brief rally early in the year, a further decline in global oil prices in August 2015 derailed an anticipated recovery, and annual real GDP contracted by a total of 3.7 percent. This report series is produced twice a year by World Bank economists in the Macroeconomics and Fiscal Management Global Practice.
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“World Bank Group. 2016. Russian Economic Report, No. 35, April 2016: The Long Journey to Recovery. © World Bank. http://hdl.handle.net/10986/24028 License: CC BY 3.0 IGO.”
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