Russia Faces Recession for Two Years With $50 Oil, IMF Says
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Russia’s economy would slip into recession for one to two years if oil prices fall to $50 a barrel next year and stay at that level, according to the International Monetary Fund.
The worst-case scenario “illustrates the continuing vulnerabilities of the Russian economy” because of its dependence on commodity exports, said Odd Per Brekk, the IMF’s senior representative in Moscow.