An estimated 30 million Russians work off the books. Known as "Garazhniki," they make furniture, fix cars and do other jobs. Now, after two years of recession, President Putin hopes to legalize them and collect taxes. But many think they'll resist.
A spate of protests against a new tax has spread beyond the Belarusian capital, Minsk. The unpopular labor law obliges citizens to pay the equivalent of $250 if they work less than half the year.
Russian authorities are preparing a stress test for the economy based on oil prices of $25 per barrel. Meanwhile, analysts warn the country could be in for a world of pain if prices continue to plunge.
The World Bank's forecast marks a slight slowdown to last year's projected growth figures for the eurozone. The US and commodity-exporting nations are expected to reap the most benefits in 2017.
The International Monetary Fund (IMF) has pared back its global growth estimate for this year, warning of 'tangible risks' including rising protectionism and Britain leaving the EU as a result of a referendum in June.
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