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Russian economy contracted by 3.7 percent in 2015

  • According to preliminary figures published by the statistics service of Russia, in 2015 the economy of the country contracted by 3.7 percent. In the country’s worst performance since 2009, retail sales fell by 10 percent and capital investment by 8.4 percent. However, GDP of Russia grew by 0.6 percent in 2014. The economy has been badly affected by the extraordinary collapse in oil prices.