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Barents Monitoring: Arkhangelsk 2009 Q1

The first quarterly 2009 monitoring report from Arkhangelsk Oblast shows a significant drop within most parts of regional economy, except within the mining industry. Investments are down three times compared with 2008 figures. Electric power generation is at a five-year low.

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However, the report maintains that the drop in regional economy might now have been stalled. The report also maintains that the economic downturn does not yet have serious consequences on social life in the region. That is due to only a modest increase in unemployment and averted collapse in people’s incomes.