EFFECTS OF THE CRISIS AND RUSSIA’S SOCIO-ECONOMIC DEVELOPMENT OUTLOOKS

Alexei Kudrin and Oleg Sergienko
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Oleg Sergienko: Ministry of Finance of the Russian Federation

Working Papers from Gaidar Institute for Economic Policy

Abstract: The past year was transitional from the crisis period to a normal development. Russia’s GDP increased 4% in 2010. GDP and industrial production nearly recovered by the end of 2010, reaching 97-99% of the values recorded in September 2008, as estimated by Rosstat. These values show that as early as the beginning of 2011 Russia’s economy is more likely to eclipse its pre-crisis level. A few industries, however, are showing levels which are still far behind the values recorded prior to the crisis, namely machine building industry (20%), metallurgy (8%), construction industry (5%). Therefore, most industries may not be expected to recover completely until the second half of 2011 or early in 2012.

Keywords: Russian economy; economic development (search for similar items in EconPapers)
JEL-codes: P10 P16 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2013, Revised 2013
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https://www.iep.ru/files/RePEc/gai/wpaper/0085Kudrin.pdf Revised version, 2013 (application/pdf)

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