Russian exports are expected to decrease in 2009 by 45 percent year on year due to a decline in global prices and supply volumes, the Russian government's press office has announced within the scope of the adjusted forecast for Russia's social and economic development in 2009.
Accordingly, the 2009 export decrease will lead to lower investment activity against the background of slow trade growth and stagnating real household incomes. As a result, Russia's GDP is expected to decrease by 2.2 percent, its trade to decline by 0.3 percent, while investment is thought likely to fall by 13.8 percent.
The fall of industrial production in Russia may reach 7.4 percent, while inflation is predicted to reach 13 percent. The biggest production decreases in 2009 are expected in the metallurgical, construction product, car making, woodworking and textile industries.
Also, according to the forecast, the economic decline registered in Russia in the fourth quarter of 2008 may continue throughout the first two quarters of 2009, as the positive effects of the government's anti-crisis measures will only become evident by the end of the second quarter of 2009.