The Phaserl


Euro recession far from over- Russia

from The BRICS Post:

Eurozone recession is lingering and Europe’s unemployment rate is rising amid a slow global economic recovery, Russia’s economic development ministry said in a monitoring report on Monday.

Russian deputy economic development minister Andrei Klepach said in late May that recession could hit Russia only if recession developed in the global economy and negative trends remained in the eurozone.

“The macroeconomic picture for the week [from May 31 to June 6] has not shown any significant changes in the world economy’s key trends in 2013.

“However, some signs show that the global economic recovery is becoming less stable as the world’s recognised growth drivers – the US and China – are weakening,” the report said.

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