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Friday, December 12, 2008 

Russia In Recession


After US, Germany, Italy and many others countries, now has come the time of Russian Government admits that the country is also technically in recession. "The recession started" said the responsible government, to explain that there has been a drop in production for two consecutive quarters. "In October, he added, began a major slope and the same will happen in November and December. For now, there is no data available on the index of industrial production for November." According to Klepach, "until the end of this year, the increase in industrial production in Russia itself may decelerate to about 1.9% compared with 4.7% originally planned." Klepach said that the increase of Gross Domestic Product will be this year, lower than the official forecast of 6.8%, but refused to announce new estimates. Between January and September 2008 the Russian economy grew 7.3%, four tenths below the original forecast of the Ministry of Economic Development. The year of 2009, promises to be one of the worst years since the crisis of 1929.

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