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Russian Economy Sees GDP Drop 10.9 Percent

August 11th, 2009 · No Comments · Russia Economy

The Russian economy saw GDP drop by 10.9 percent in the second quarter according to Bloomberg.

Key drivers of the poor Russian economic news are a continued rise in unemployment, a stalled Russian government stimulus plan to counter the impact of the global recession, and a lack of bank lending as well as the crash in commodity prices.

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