Russian premier-minister: Russia risks sliding into deep resession in 2015

Russia's economy is at risk of entering a period of deep recession

Baku. 24 December. REPORT.AZ/ Russia risks sliding into deep resession in 2015, Russian premier-minister Dmitry Medvedev said to RIA-Novosti, Report informs.

If we put before ourselves more modest tasks then we risk going into a deeper recession, which could happen, he states.

He compared the current economic situation to that of 2008 during the financial crisis.

The Ministry of Economic Defense predicts that the Russia GDP will fall by 0.8%, according to BBC.

But others are even more pessimistic.

"The PMI survey found the Russian economy risking not only prolonged, but deep recession. We expect 1.5% GDP decline in 2015, but are prepared to see even deeper decline if current negative trends by the PMI survey continue," Alexander Morozov, the Chief Economist of Russia, CIS and the Baltics at HSBC.

The outgoing year - how unpleasant it is to say this - was not easy. However, let someone show me at least one example of an easy year that we have lived, starting with 1991, and even before that, Medvedev added.

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