Agence France-PresseApril 21, 2014 10:20
Russia could tip into recession in the second quarter of 2014 after the economy contracted by around 0.5 percent in the first three months of the year, a finance ministry official said Monday.
"It looks like the second quarter compared with the previous quarter will again have a negative value. In this way, the finance ministry does not rule out a technical recession," the Interfax news agency quoted Maxim Oreshkin as saying.
Oreshkin, who heads the finance ministry's department for long-term strategy, made the prediction in comments to journalists.