Russian prime minister warns of ‘deep recession’ in 2015

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Russian Prime Minister Dmitry Medvedev warned on Tuesday that the country’s economy is at risk of sliding into “deep recession” next year.

Medvedev, speaking at a United Russia party meeting, said the government will not back away from its spending plans, otherwise, the country’s economy could nosedive.

Economists have in previous weeks predicted that Russia’s energy-dependent economy will experience serious economic decline in 2015.

Chris Weafer, a senior partner at Macro-Advisory Ltd, an economic and financial consulting firm in Moscow, told Mashable “a recession in 2015 is unavoidable.” …

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Via: Mashable: Business

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