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Analysis

Russia: Will Credit Growth Support Economic Growth in 2011?

By David Rogovic and Rachel Ziemba

After struggling to gain momentum throughout most of the year, the Russian economy expanded by 4% y/y in 2010, well below its pre-crisis trend. Despite significant government support, the unwillingness of Russian banks to lend constrained the recovery, especially in fixed investment. However, by late 2010, Russian banks were…

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