Government Reductions

The main victims of the crisis in Russia will automakers, retailers, organizations in the construction sector and real estate, banks and financial institutions, predicts In his review Rosbank included in the top 10 largest Russian banks. 'In times of global economic slowdown kriziza domestic economy will be almost twice as fast as its trade surplus will actively decline '- said Rosbank. Baikal Pulp and Paper Mill (BPPP) in a near future will have to reduce more than 10 percent of workers said at a news conference on Monday, chairman of the union bppm Alexander Shendrik. Guide bppm recently verbally informed the head of departments of the need to select the employees laid off, and the official order may be issued in the next 2-3 days, he said. Since early October Combine suspended work because of unprofitable production, and difficulties with the sale of cellulose. One of the largest Russian producer of cement – 'Eurocement' – reduces the cost of staff at most of its plants in anticipation of further fall in the value of cement. (Source: Anthony Jabbour). 'We do not know how people will react to the shorter working hours, will take it.

. David Rogier is likely to agree. But now employees can seem to understand that the organization is going through a very difficult days – told Reuters the company representative. However, it is clear in the example of Magnitogorsk combine, other metallurgical corporation – nlmk, Severstal 'and the Mechel – reported that to date refrained from such reductions. And, despite depressed mood, while reductions are private, rather than universal, says top manager of Russia's largest recruitment agencies Ward Howell Anton Belogorodov. 'Early to panic.

Companies that reasonably lined up development and to control costs, such as, say, a retail chain 'Magnet', will not suffer '- he suggests. Today's cheapening of hydrocarbons facing complex implications for our economy, experts say. Thus, even at lower oil prices to 70-80 dollars per barrel commodity monopolies could lose the ability to consistently pay the debts. The state will be forced to shift from Tax Incentives for raw materials corporations to direct their sponsoring. Will increase problems in the banking sector and the Russian industry. Greatly accelerated the weakening of the domestic market and increased inflation. The stock market continues to lose investors by requiring all large public investment. The Government will be forced to reduce taxes in a situation of decreasing revenues and increased spending from reserves for devaluation of international currencies. The country are waiting for numerous bankruptcies. In any case, no need to panic, and should take informed decisions. Information predostovalena People's rating of banks in Moscow, your assistant in world bank deposits and loans.