NEWSWATCH: “Russia’s economy is recovering well” – CNN

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“[Russia] is recovering nicely from a recession and should see economic growth of 1.4% this year, according to [the IMF] … Russia is heavily dependent on oil exports and was hit hard when crude prices started to crash in 2014. Economic sanctions imposed by Western governments as punishment for Russia taking control of Ukraine’s Crimea region dealt the economy another blow. * * * … The IMF welcomed Moscow’s plan to bring down its budget deficit, rebuild foreign currency reserves, privatize some state-owned companies and purge weak banks from the financial system. But … lingering effects of sanctions could still deter investment, and Russia’s government needed to pursue a much wider reform agenda …. “

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