Russian economy

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Russian economy

Russian economy is on a shaky foot after the industrial output for the month of November slumped by 8.7% compared to a year earlier. Ruble a hard rock currency ever since the rise of oil prices Ruble has lost 15% of its value and so are Russia's fast shrinking foreign reserves. This coupled with credit crunch, fall in the stock market, plummeting industrial production and mounting lay offs, the Russian economy is facing a daunting task. Although a rise in oil prices may buy Kremlin some time but the public discontent has already begun to simmer. The economic crisis may be scarcely discussed in Russia, People do know that not everything is under control.

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People & Blogs

Tags:

• Russian economy
• industrial growth
• ruble devaluation
• oil prices
• Kremlin
• Moscow
• Russia
• Instablogs