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Commodities Briefing - Categorized | Commodity Crisis, Market Moves more

Russia lurches into reverse as commodities give way

Posted on 27 February 2009

From Financialpost.com: Russia has lurched into reverse after 10 years of uninterrupted growth driven by revenue from oil, gas, metals and consumer spending. While almost half of all Russians still have no savings, people with spare cash like Zaporozhtseva say they are guarding it to pay bills and survive as wages decline and the number of jobless rises beyond six million.

The government expects the economy to shrink 2.2% this year after expanding about 7% a year since 1999….. Full Article: Source


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VRS - who has written 36521 posts on Opalesque Commodities Briefing.


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