Russia ‘on brink of recession’, says economy minister

Maxim Reshetnikov said whether Russia slid into recession or not depended on the government’s actions (Roscongress Foundation via AP)

Russia’s economy is “on the brink of going into a recession”, the country’s economy minister has said, according to reports.

Economy minister Maxim Reshetnikov delivered the warning at the St Petersburg International Economic Forum, the annual event in Russia’s second largest city designed to highlight the country’s economic prowess and court foreign investors.