A worker repairs a Currency Displayed in St. Petersburg, Russia. | © Dmitry Lovetsky / AP / dpa
The Russian gross domestic product fell by 0.5 percent within a year. This was announced by the Ministry of Economics in Moscow, referring to the value of November. It is the first time since October 2009 that the economic performance declined.
Thus, affected by the weakening economy, especially the service, construction and agricultural sector. As the basic Western sanctions are called for Ukraine crisis and the decline in oil prices.
It might even have been worse: The price of oil, which is very important for Russia as an energy supplier, fell further in December dramatically. Since June, it fell by about 50 percent. Finance Minister Anton Siluanow had recently announced economic output could shrink next year by four per cent, should oil prices remain at the current level of around $ 60 per barrel.
The strong ruble decay makes the economy to create. The poor economic forecasts allowed the ruble in the first trading hours on Monday continued to fall by up to seven percent.
Last week, Russia announced measures to stabilize the currency. For five days, the courses then solidified. The slight improvement has now been made part naught.
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