Russia’s economy will continue facing pressure from lower crude oil prices and sanctions, though growth returns by next year, the World Bank said Wednesday. The World Bank said a recession in Russia is expected to eat away at progress meant to equalize the distribution of wealth in the country, with the poverty rate expected to increase nearly a full percentage point to 14.2 percent this year. If its forecast is accurate, the World Bank said that would erase nearly 10 years of progress. Andras Horvai, the World Bank’s director for Russia, said long-term growth depends on how well the Kremlin can bolster investor confidence with appropriate reforms. “Administrative barriers to doing business, […]