Russia's economy off the floor, just
The country seems to have seen off the worst. But the recovery will be weak and come from a low base
RUSSIA'S economy has been wounded and looks anaemic after the triple hit of the collapse in oil prices, international sanctions and the subsequent ruble devaluation. But the Kremlin has nursed the decline with sound macro management, tapping its large currency reserves. The patient may emerge from a two-year recession next year. Russia’s ability to survive the pain of sanctions, which has severely limited its access to international capital markets, has been boosted this year by the better-than-expected oil price. The country, which generates about a third of its budget revenue from oil and natural gas exports, is expected to post a 0.6% contraction in GDP this year, compared with a 3.7% con
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