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Russia expects economic output to drop 10 percent
By EUobserver
Official Russian forecasts suggest the economy is set to shrink more than 10-percent this year. "The finance ministry and the ministry of economic development are assessing the [GDP] decline this year," Alexei Kudrin, who runs Audit Chamber, a budget watchdog, said on Tuesday at a Federation Council budget committee meeting, according to Interfax. "According to the official forecast, it will be more than a 10-percent decline."