Russian Growth Slowest Since 2009 on Sanctions, Poll Says - Bloomberg

Russian Growth Slowest Since 2009 on Sanctions, Poll Says - Bloomberg:



"Russia’s first-quarter economic growth was probably the slowest since a 2009 recession as the country’s standoff against the U.S. and its allies over Ukraine shrivels up investment, a survey of economists showed.



Gross domestic product advanced 0.7 percent in January-March from a year earlier after a 2 percent gain in the previous quarter, according to the median estimate of 19 economists in a Bloomberg survey. The Economy Ministry projects that output expanded 0.8 percent in the period. The Federal Statistics Service in Moscow may report its first estimate today.



The U.S. and the European Union responded to President Vladimir Putin’s takeover of Crimea from Ukraine with sanctions and warned they are ready to take further measures if the former Soviet republic’s May 25 presidential election is disrupted. The $2 trillion economy was stalling even before the penalties hit. The International Monetary Fund said April 30 that Russia is already in recession."



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