According to preliminary data the RF Ministry of Economic Development, in July this year fall in GDP amounted to 9,3% in January-July - 10,2% compared with the corresponding period last year.

As stated in the report of the Ministry, the country's continuing decline of construction and consumer demand. At the same time is marked trend recovery in industrial production and freight transport, stopped the decline of investment in fixed capital. As a result, with the exception of the seasonal factor, according to the Ministry of Economic Development, GDP growth continues the second consecutive month - in July, GDP grew by 0,5% compared to June.

However, the preliminary estimate of Rosstat, in the second quarter of 2009 the volume of GDP fell by 10.9% for the second quarter of 2008, relative to the first quarter of this year grew by 7,5%.

federal budget deficit, according to preliminary estimates the Finance Ministry, in January-July of this year amounted to 923.8 billion rubles, or 4,3% of GDP, against a surplus of $ 2 118.9 billion rubles (9.3% of GDP) for same period a year earlier.

At the same time Russia's budget revenues amounted to 3 801.2 billion rubles, or 70% compared to January-July 2008, and expenditures of the budget - 4 725 billion rubles, or 132.8% against January-July 2008.

The data confirmed the Deputy Economic Development and Trade Minister Andrei Klepach, saying in an interview with Russia's media that the decline in Russia's economy was completed and it comes to the phase of recovery. According to him, in September, inflation fell, but the crisis was still early, because industrial production will reach pre-crisis level only a few years.
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