Russia’s GDP exceeds Pre-Crisis Level

Russia’s gross domestic product (GDP) exceeded pre-crisis levels in early 2012 and the domestic economy has fully recovered after the 2008-2009 crisis, Prime Minister Vladimir Putin said on Wednesday.

“In early 2012, as we planned, Russia’s GDP exceeded the pre-crisis level. This means that our economy fully overcame the consequences of the decline registered in 2008, 2009 and even 2010,” Putin said in his final report as prime minister to the State Duma, the lower house of Russia’s parliament.

In 2008 prices, Russia’s GDP totaled 41,421 billion rubles ($1.38 trillion) in 2011 compared with 41,277 billion rubles in 2008, he said, according to RIA Novosti.

The Economics Ministry has reported that Russia’s GDP grew 4.3 percent in January-February 2012 and 4.8 percent in February 2012 compared with the same periods last year.