| Author (Corporate) | Deutsche Welle |
|---|---|
| Series Title | Article |
| Series Details | 02.12.14 |
| Publication Date | 02/12/2014 |
| Content Type | News |
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Russia's deputy minister of economic development Alexei Vedev announced on 2 December 2014 that the country would fall into recession in 2015 due to low oil prices, massive capital outflows and also the impact of West-imposed sanctions. Mr Vedev went on to say that Russian's rouble would keep its fragile condition as a result of the poor economic performance. On the previous day, Russia’s central bank was forced to abandon its hands-off policy towards the rouble amid heavy selling, unmatched since the Russian debt default of 1998. Russia's Central Bank said on 4 December 2014 that it was prepared to spend an unlimited amount of money on defending the Russian currency. |
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| Source Link | http://dw.de/p/1Dy76 |
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| Countries / Regions | Russia |
