Russia recession may last two quarters -Dep Econ Min

Russia is already in a recession that could last for more than two quarters, Deputy Economy Minister Andrei Klepach said on Friday, according to Reuters via FXstreet.com The Foreign Exchange Market.

Asked whether Russia would have a recession, he told reporters: "It`s started already.

"I`m afraid it will not be over in the next two quarters."

Klepach also said full-year economic growth would be lower than the 6.8 percent previously forecast.