No quick recovery for Russian economy: ex-minister

The Russian economy will not start recovering from crisis for another year, ex-finance minister Alexei Kudrin said on Friday, forecasting more pain after the 1.9 percent contraction in the first quarter of 2015.

Analysts expect the Russian economy to contract by 3.3 percent in the whole of the year as it suffers from low oil prices and a weak rouble currency, coupled with Western sanctions imposed over the conflict in Ukraine.

Russian officials have said the worst is over for the Russian economy.

But Kudrin, a rare critical voice in President Vladimir Putin's Russia, offered a more pessimistic view.

"The situation is not getting better but is only getting worse in the second quarter," Kudrin told journalists.