CBS Investment

International Economic Forum will take place in St. Petersburg from 4 to 6 June. A year ago, when the economic crisis had already affected the United States and Europe, businesses still continued to call Russia a “quiet haven.” The Government in its turn had built long-term plans for the new role of Russia in the world. And in his speech at the Economic Forum, President Medvedev said: “We have waited long for new bright victories: in economy, technology, and social development.” But the crisis still made it to Russia, and loudly announced itself. Following four months of 2009 the decline in GDP was 10%, while the budget deficit reached 9% of GDP.