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Russia's fixed investment down (RBC).| 24.02.10 | Fixed capital investment slumped 8.7 percent in January 2010 to RUB 319.2bn (approx. USD 10.65bn) year-on-year. Meanwhile, on a month-on-month basis, the fall was at a whopping 72.6 percent, according to the estimates provided by the Federal State Statistics Service of Russia.
The slump in January 2010 was preceded by an equally powerful surge in December 2009, however, when fixed investment jumped 66.9 percent against November 2009 to RUB 1.16 trillion (approx. USD 38.69bn). Unfortunately, even at that point the statistics agency registered a fall of 8.9 percent year-on-year.
As reported earlier, in 2009, fixed investment in Russia shrank 17 percent compared to the 2008 figure, down to RUB 7,539.9bn (approx. USD 251.5bn). Nevertheless, the Economy Ministry predicts a rise in fixed investment starting in 2010, as it indicated in its revised social and economic development forecast for 2010, and for the planned period of 2010-2012. The revised parameters are based on two main scenarios – a conservative one and a moderately optimistic one. In this context, fixed investment is expected to increase 1.1-4 percent in 2010, 3.6-9.4 percent in 2011, and 8.6-12 percent in 2012.
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