Russian economy shrinks 3.7% in 2015
Russian economy shrinks 3.7% in 2015
Moscow - SPA
Russia's economy shrank by 3.7 percent in 2015 as the country struggled with the low oil price and international sanctionsm, AP reported.
The state statistics service says in a preliminary report Monday that last year also saw a 10 percent drop in retail sales and a one-third drop in foreign trade.
With Russian government revenues hurt by the fall in the oil price, the government has said it will have to make cuts to the budget for 2016, which was adopted in October and based on an oil price of $50 per barrel.
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Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
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