Due to what authorities hope to return the economy to pre-crisis level

Written by admin on October 21st, 2009

Russia will come to pre-crisis level of GDP in 2012, said Deputy Economic Development Minister Andrei Klepach.

He noted that the volume of industrial production and investment can keep pace with this schedule, as well as export volumes which in 2012 can be 30% less than it was in 2008. The newspaper Novye Izvestia questioned whether the expense of what in this case, Russia's economy will return to pre-crisis level.

publication notes that in reality, Russia's economy continues to remain in a state of medium gravity, and well-being industries, which can fall behind schedule recovery - below average.

exports, according to the Bank of Russia in January-August of this year fell by 45.7% against same period last year, according to the forecast of Ministry of Economic Development, and his rapid recovery of power especially not count. Investment in fixed capital, according to the Federal State Statistics Service, for eight months fell by 18.9% over the same period last year, while industrial production from January to September fell by 13,5%.

However, despite this investment in August, added 4.6% by July, and industrial production in September - 5,1% in August. This fact, according to the publication, and gives the authorities hope that the worst times are behind us, but ahead of the country waits for the exceptional growth of the economy.

Deputy Director of Institute Development Center Valery Mironov says: if you remove the side three laggards, GDP growth could be realized by domestic demand, reduce imports and deindustrialization.

However, to the domestic industry has contributed to the rise in GDP next year, it should at least survive until the New Year. And the country's huge corporate foreign debt, which must be paid. The critical moment will be in December, which will have a great amount of repayment of external debt - said Valery Mironov. - In this situation, much will depend on how to behave, foreign creditors - will they roll over the debts on or not.


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