Russia's economy will shrink 15 percent this year and three percent in 2023 as the hit from Western sanctions, an exodus of companies, a Russian "brain-drain" and collapse in exports wipe out 15 years of economic gains, a global banking industry lobby group said.
Russia's economy contracts by 3.7% in 2015, according to preliminary figures published by the country's statistics service.
Russia's economy will shrink 15 percent this year and three percent in 2023 as the hit from Western sanctions, an exodus of companies, a Russian "brain-drain" and collapse in exports wipe out 15 years of economic gains, a global banking industry lobby group said.
Russia's economy contracts by 3.7% in 2015, according to preliminary figures published by the country's statistics service.
