FBK’s experts assessed successfulness of overcoming the global crisis by various sectors of Russian economy

Date of publication

02.03.2011

On March 1, 2011 a regular meeting of FBK Economic Club was held where report Economic Crisis Seen through Sector Review was presented. FBK analysts carried out comparative assessment of how successful the crisis was overcome in various sectors (types of economic activity) in Russian economy. The authors of the report considered the period since October 2008, when the acute crisis phase started through the end of 2010, under which results recovering growing was noted.

As Igor Nikolaev noted, the best performance was shown by mineral productions, except for fuel and energy entities. Since the beginning of crises, production growth in this type of economic activities made 129,3%. According to Igor Nikolaev, paradoxical conclusion suggests itself: if not the commodities orientation of Russian economy, the decline would have been much deeper than the 7,8% of GDP noted by the results of 2009. However the data received, Nikolaev concluded, make us not preserve the current commodities structure of economy but to take measures to increase competitiveness of processing industry, working much more promptly and efficiently to support the demand.

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