Home  Journals  Finance and Credit  17(353) – 2009 May

Losses of population in the condition of the financial crisis in Russia

Available online: 16 September 2009

Subject Heading: Financial crisis

JEL Classification: 

The current world financial crisis is compared to the Great Depression, based on its scale. As the Head of the Sberbank of Russia G. Gref stated, the losses of the financial sector in Russia for 5 month have amounted to 1 trillion dollars. Other losses affecting the entire population of Russia should also be mentioned. First and foremost, it is the decrease of industrial production. The decrease of industrial production inevitably led to mass layoffs: from September 2008 to February 2009 the total number of unemployed in Russia grew by 1.1 million people, up to 1.8 million people.

Keywords: finances, crisis, losses, industry, manufacture, unemployment, import, goods

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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