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Russian GDP Drops 36 Percent in Last Decade: Report
Russia's gross domestic product (GDP) slumped almost 36 percent in the past 10 years since the beginning of current economic reforms in the early 1990s, according to a latest official report.
During the period of 1991-2000, the country's industrial production plummeted 45.7 percent, and agricultural output dropped 38.8 percent, according to the data published by the State Statistics Committee Saturday.
In the 10 years, the fixed capital investments fell 74 percent and the retail turnover reduced 8.6 percent. The population's real income decreased 51.6 percent in 2000, compared with the beginning of 1992.
However, the national economy began to change for the better in the second half of 1999. In the year, the GDP rose 3.2 percent with industrial output up 8.1 percent and agricultural yield up 2. 4 percent.
In 2000, the situation was more favorable. The GDP growth was registered at a record high of 7.6 percent, and the rises hit 9 and 5 percent in the industrial and agricultural sectors respectively.
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