The government has planned to reduce the budget deficit to 3 percent of GDP by 2012, pulling the economy back to a path of sustainable growth without running a budget of deficit.
Putin also voiced satisfaction with tests of Russia's most advanced fighter jet. "Flight tests of the fifth-generation fighter are continuing successfully," the prime minister said.
Russia's fifth-generation fighter, the T-50, successfully finished its maiden flight in late January. The warplane is designed to rival the U.S.-made F-22 Raptor, the world's only fifth-generation fighter in active service.
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U.S. not ready to declare when recession ended
WASHINGTON, April 12 (Xinhua) -- Although most barometers show improvements in the U.S. economy, it remains "premature" to declare when this round of recession ended, according to an authorized U.S. academic organization.
The National Bureau of Economic Research (NBER), the most recognized academic organization to assess the nation's economic cycle, said Monday that it is still not ready to pinpoint the end of a recession based on economic data seen so far. Full story
Overcapacity exacerbated by recession
BEIJING, April 12 -- Economists fear manufacturers and developers may be producing goods and infrastructure nobody wants, report Andrew Moody and Lan Lan in Beijing
Once the red ribbon is cut on any new project, it would involve a huge loss of face in China for it not to go ahead. Full story
Russia emerges from recession: official
MOSCOW, Feb. 2 (Xinhua) -- The Russian economy has grown for two consecutive quarters, a sign that the country is emerging from recession, a deputy economic development minister said on Tuesday.
Russia posted positive quarter-on-quarter results in the second half of last year, with its gross domestic product expanding 3.7 percent in the fourth quarter and 1.1 percent in the third, Andrei Klepach told a news briefing, citing data from the Federal State Statistics Service. Full story
