Russian GDP down 10,5 percent
The Russian federal government now believes the country’s GDP in 2009 will shrink between six and eight percent. In April, the GDP dropped 10,5 percent.
Deputy Minister of Finance Andrey Klepach yesterday told journalists that the decline in Russian GDP in the four first months of 2009 totaled 9,8 percent. In April, the drop was 10,5 percent, Interfax reports.
The official still highlighted that the drop in April was lower than in March and that the 2009 might see a total decline of 6-8 percent. The main negative issue is the decline is investments, which totaled 15,2 percent and in April and 15,8 percent over the last four months.
Mr. Klepach also said that his ministry expects a 9 percent budget deficit this year, the news site informs.
In his forecast presented to government and the countries federal assemblies yesterday, Russian President Dmitry Medvedev said the Russian budget deficit in 2010 will continue to drop to an estimated seven percent, Newsru.com reports.
