Russia’s economy needs structural reform (Observer Research Foundation)

As 2014 drew to a close, the recession of Russia’s economy was already evident. Things have only gotten worse since then — with its GDP contracting by 3.7 percent and the value of the ruble falling about 127 percent in 2015, Russia is now in the midst of a severe economic crunch. Various factors like falling oil prices, economic sanctions, and a weak domestic market have contributed to the ongoing downturn. According to World Bank forecasts, the Russian economy is expected to continue to contract in 2016, albeit a little less than last year. Slow yet positive growth is expected from 2017 onward

http://www.orfonline.org/research/russias-economy-needs-structural-reform/