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Russia Is Falling Into A Recession

Tomas Hirst,Tomas HirstDec 2, 2014, 15:34 IST

Russia's Economy Ministry has downgraded its growth forecast for the country in 2015 from 1.2% growth to a 0.8% decline. In other words, the country is falling into a recession.

The net amount of foreign capital expected to flow out of the country in 2014 has been revised sharply upwards to $125 billion (up from $100 billion), while the projection of net outflows for next year has also been increased from $50 billion to $90 billion.

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