HSE: All regions of the Russian Federation, except Crimea, are in economic depression
In May 2016, the index of regional economic activity in Russia was at the level of 42 percent, indicating a recession Experts of the Higher School of Economics (HSE), having analyzed the economic activity of the Russian regions, came to the conclusion that all federal districts are in a depressed state. The only exception is the Crimea annexed by Russia in 2014.