Wednesday, 28 January 2009

Putin: "light at the end of the tunnel"

"Russian Prime Minister Vladimir Putin said he sees “light at the end of the tunnel” for the economy by the middle of the year and called for global rules to avert a repeat of the current crisis.

Some industries may begin to recover by the second half and the Russian economy, which the government forecasts will contract 0.2 percent in 2009, should start to experience “positive trends” this year or in early 2010

Well if Mr Putin start to become optimist, maybe it's about time to change the baseline scenario or is it? others, mainly governments argue for a recovery mid 2009 with substantial export growth...

In fact there is far too many "IF", and at the same time world class companies are shedding job at the fastest pace since 2001 (Caterpillar, Intel, IBM, Microsoft etc...). Are they wrong?

So who is right? I think it's too early to have a good judgement...

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