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178

Russian economy hardly hit by the deep fall of oil price in 2009

After a growth of 5.6% in 2008, the gross domestic product of the Russian federation declined 7.9% last year.

Russian economy hardly hit by the deep fall of oil price in 2009

After a growth of 5.6% in 2008, the gross domestic product of the Russian federation declined 7.9% last year. The main factor of this drop is the drastic fall of major commodities prices such as gas and oil, which have a primordial economic role in the resource exported policy followed by Russia.

 

However, the World Bank prediction for 2010 plane a growth of the Russian GDP of 3.2%, this, mainly because of the strong recovery of global demand and higher oil prices. Nevertheless, according to the bank the GDP level will not return to the pre-crisis levels by the end of 2012. 


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