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Ukraine crisis could shrink Russian economy by 1.8%: World Bank


The Russian economy could shrink by up to 1.8 percent this year because of the effects of the crisis in Ukraine, the World Bank estimated on Wednesday.

The World Bank said that if the impact of the crisis turned out to be low, the economy could grow by 1.1 percent this year but the high-risk outlook "if the geopolitical situation worsens" would result in "a contraction of 1.8 percent in 2014."