STHE global economic turmoil started in late 2008, Russia's GDP still showed 5.6 percent growth to 1,676 billion US dollars. As usual, Russia had a trading surplus last year (102 billion US dollars) and GDP per capita in 2008 was 15,921 US dollars, the highest level since 1991. However, during the first half of this year the Russian government changed its forecast several times for 2009-10, indicating that GDP may grow only 1.5 percent in 2010. Inflation last year was 14 percent, and from December 2008 to January 2009 the rouble fell 25 percent against the US dollar. Russia's government and corporate external debt grew to 475 billion US dollars in the June quarter of 2009. The government debt is 27 billion US dollars, of which 4.4 billion US dollars is the Soviet debt. As of end-June 2009, bank debt was 142 billion US dollars, with the balance being corporate debt.
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