EBRD says Russia certain to fall into economic recession
LONDON (Reuters) - The European Bank for Reconstruction and Development (EBRD) said on Tuesday that sanctions-hit Russia now looked certain to go into economic recession.
The bank, formed in 1991 to invest in the ex-Communist Eastern European countries, predicted earlier this year that Russia would grow 0.6 percent in 2014, but warned the country would enter recession if more serious sanctions were imposed by the European Union and the United States
"We think it is even more likely that Russia will go into recessions now...confident." EBRD chief economist Erik Berglof told a news conference.
(Reporting by Marc Jones; writing by Sujata Rao)
