Russia's economic contraction of 7.9%
Economy October 19th, 2009
Russia has decreased its economic growth (gross domestic product / GDP) up 7.9 percent in 2009. Russia’s economic contraction was the worst since the last 15 years, ie since the crisis, the collapse of the Soviet Union.
As reported by the AFP, Wednesday (3/2/2010), the nation’s economy before 2008 is an increase of 5.6 percent. However, the global economic crisis that happened makes it all turn around. This happens because of rising energy prices.
However, in the middle of Russia’s economic prospects for 2010, the figure is slightly better than expected by the government, which had predicted a worse contraction of 8.5 percent.
Some economists said Russia deserved it. Given the failure of reform and economic diversification while still independent guncanagan vulnerable to oil prices.
As known, the economic crisis is very severe impact on the industrial sector. In fact, the largest car manufacturer in Russia Avtovaz badly affected, that finally prompted fears of social kerususan in one of the city.
Construction sector also received a severe shock, which had contracted to 16.4 percent. While the manufacturing sector melamah 13.9 percent. In addition, hotel and restaurant sector as well as much as 15.4 percent menysusut.
