In 2008,Russia's economic growth moderated under the Medvedev-Putin tandem. After 9 years'growth Russian economy has been hard hit by the dual shocks of declining oil prices and capital flow reversals under the severe impact of the global financial crisis triggered by the US subprime mortgage crisis. The Russian economy continued to decline as domestic demand weakened sharply due to large contraction of investment and final consumption in 2009. The recent rise in the prices of oil,gas and other raw materials has helped mitigate the economic deterioration,but haven't stopped the recession of the overall economy. The year of 2010 is vital for the Russian economy to recover from recession.
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