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Russia: Emerging from Recession

7:50 AM MST | January 8, 2010 | Ian Young

The Russian government is steering the economy out of recession with a package of stimulus measures that should bear fruit in 2010. “After an initial sharp rebound from the deep recession of the past year,” GDP growth is projected to return to levels of 4%-4.5%, the Organisation for Economic Cooperation and Development (OECD; Paris) says. However, economic activity in Russia will remain well below levels in previous years. “Although recovery is in prospect, the large output gap and subdued inflation suggest that policy stimulus should not be...

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