Russian central bank says recession in past, slow growth ahead

A sled in the form of the Russian ruble at the Winter Sledge festival in St. Petersburg, on February 1, 2015Russia’s central bank on Monday said that GDP figures show the country is moving out of its protracted recession and returning to tentative growth. “The evaluation of the Russian GDP shows that the recession is now behind us and ahead is slow economic growth,” the bank said in a note. The Bank of Russia estimated that growth in the second quarter of 2016 hit 0.2-0.3 percent and said it had boosted its forecasts to 0.4 percent growth in the third quarter and 0.5 percent in the fourth quarter.

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