Lower oil prices may hinder Russia's growth – September 14, 2011
clipped from article:
Gross domestic product (GDP) may shrink as much as 1.4 per cent next year under a negative scenario that projects a ‘world recession’ cutting the average price of Urals crude by almost a half from the current level, according to the report, submitted to the government for approval last week. The price has averaged US$109.36 this year and traded at US$114.63 on Monday.
A reliance on raw materials, which President Dmitry Medvedev called ‘humiliating’ and ‘primitive’, has left the economy vulnerable to dropping global demand for its commodity exports.
About psy4mba
Violence is everybody's business!
Follow me on Twitter @TurtleWoman777
Master of Psychology - Institute of Transpersonal Psychology, Palo Alto, California
MBA Executive - Colorado Technical University
Bachelor of Science - Eastern Kentucky University
Teaching Certification - University of Phoenix
currently working on PhD in Psychology, dissertation on "Altruistic Personality Development as Opposed to the Bystander Effect"
Have about a year to go, but took a break because takes hours a day doing research and #FreeSyria needs extra support. I can't focus on school until Syria is Free, then I will go back and finish up PhD. I will finish it, but Human lives are more important, I really do have enough education. :)
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Russia Oil Prices Falling and Demand for Exports are Declining, totally sucks for Russia