Russia recession may last two quarters -Dep Econ Min

10:18, 12 December 2008
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Asked whether...

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 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.

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