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Economist Says Long Painful Recession in Store for Russia


Economist Says Long Painful Recession in Store for Russia
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Russia's battered currency fell sharply again this week after a government report showed the economy had shrunk in November, the first such decline in five years. The Russian government recently announced steps to stabilize its banks and bolster the value of the beleaguered ruble. But experts say the country still faces a recession next year. Mil Arcega takes a look at how Russia’s economy got in this predicament and what's in store.

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