Some industries will recover in the second half of 2009 and a "positive trend" will be noticed early in 2010, believes Putin. Industries that have developed the most active in recent years are in a difficult situation. Despite this we are optimists and act under the premise that the global economy will stabilize gradually, as well as Russia's economy, said Putin.

Russia's economy will probably go into recession this year, for the first time since 1998. The price of Ural oil has declined by 68 percent from record levels in July and credit markets around the world remain weak.

Sergei Mironov, chairman of the Federal Council Parliament House, has put a proposal on a 20-percent tax on foreign currency that is brought out of the country. The tax should be levied on all companies, not just on the credit organizations, as the money must remain in Russia and promote the country's economy, believes Mironov.

He has also proposed a VAT reduction from the current level of 18 percent to 10 percent. The reduction should be retroactive and shall be effective January 1, 2009.

The money will help Russia to get through the economic crisis, said Mironov, who also wants to increase state aids to companies. Benefits should be given to the companies that retain their workforce and optimizing their costs including cutting manager salaries, according to Mironov
                                                                                        Gun Helland