Russian economy shrinks 10.1%
17 July 2009
Russian GDP declined 10.1% in the first half of 2009 and this is the worst decline since early 1990s.
The credit crunch, falling commodity prices and gradual devaluation of a rouble are behind this fall.
Russian Ministry of Economy forecasts that the GDP will contract 8-8.5% this year and grow 1% in 2010.
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