Russia

Russia’s economy has picked up after output contracted 7.9 percent last year. But the country’s recovery remains fragile, a report by the European Bank for Reconstruction and Development notes.

“The key risk remains the price of oil and other commodities. Policy-makers will face the challenge of balancing the need to sustain the still fragile economic recovery while also achieving fiscal consolidation over the medium term,” according to the EBRD report unveiled on Nov. 17, RIA Novosti reports.