Russian economy hit by drop in energy prices

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Russian economy hit by drop in energy prices

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10-12-2009, 10:04 AM

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Russian economy hit by drop in energy prices

The Russian economy, which is heavily dependant on oil exports, is forecasted to contract by 7.5% in 2009, according to President Dmitry Medvedev.The latest official figures suggest that the Russian economy declined 10.2% in the year to August, compared with the same period a year earlier.The economy has been hit hard by the sharp fall [...]

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