Recession in Russia: the beginning and continuation

Proizvodstvo14-12-2008 recession in Russia: the beginning and the continuation of the recession began in Russia. This fact is recognized, despite the fact that growth rates in Russia are higher than in developed countries during the period of prosperity. "Bottom" of the crisis, analysts expect in the I quarter of the year. In addition, in the new year of Russians expect high inflation and dollarization of the economy. The beginning of the recession in Russia acknowledged Deputy Economic Development Minister Andrei Klepach. By the end of this year GDP growth will be below the expected 6.8%, he said. According to him, two quarters (the fall of the economy), we will. " As stated by A. Klepac, GDP growth in 2008 will be lower than previously expected 6.8%. He did not specify how much lower. According to some Rosstat, in the first nine months, GDP growth in Russia amounted to 7.3% instead of 7.7% according to preliminary estimates of Economic Development. In this regard, the Ministry will specify the annual assessment. Earlier forecasts had already been lowered to 6.8% from 7.3%. A. Klepac confirmed the prediction that the outcome of the growth of industrial production in Russia amounted to 1.9% instead of the previously expected 4.7%. IFRS recession is a state of the economy when GDP declines two consecutive quarters (ie, such as in the eurozone, where growth rates of GDP for the second and third quarters amounted to -0.2%), said an analyst at AK Bars Finance Pauline Lazic Bigness.ru.