Wednesday, December 3, 2014

Russia faces recession, admits Russian minister

Russia's Deputy Economy Minister says Russia faces a recession, with GDP probably set to fall by 0.8 percent next year.

That's a significant change from a previous forecast of 1.2 GDP growth.

The announcement comes as NATO foreign Ministers meet in Brussels to discuss launching further economic sanctions against Russia.

Jake Rashbass reports.

IN: Deputy Economy Minister 
OUT: SOC
DUR: 47secs
POT: 24secs (...capital flight.)