In 2009, the Russian steel industry will register a decline of about seven percent in its output, Russia's deputy minister of trade and industry Andrey Dementiev has stated, adding, "This is a sufficiently positive figure compared to the other industrial sectors."
According to Mr. Dementiev, so far in 2009 investments in the Russian steel sector have amounted to Ruble 119 billion (approx. $4.14 billion). For the whole of 2009, total annual investment is expected to amount to Ruble 150 billion (about $5.22 billion), against Ruble 180 billion (about $6.3 billion) forecasted before the crisis. "Up to the end of the current year, no investment projects will be suspended," Mr. Dementiev affirmed, adding that in the future the state will only support investment projects directed towards the needs of the domestic market.