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History: then and now, Moscow, Russia

History: Then And Now, Moscow, Russia

Moscow is one of largest city economies in Europe and it comprises approximately 24% of Russian GDP. As of 2008 Moscow economy reached 8.44 trl roubles ($340 bln or $459 bln PPP adjusted ).
Moscow has the lowest unemployment rate of all federal subjects of Russia, standing at just 1% in 2010, compared to the national average of 7%. The average monthly wage in the city is 41,600 roubles (€1,070), which is almost twice the national average of 21,800 rubles (€560), and the fourth highest among the federal subjects of Russia.
Moscow is the undisputed financial centre of Russia and home to the country's largest banks and many of its largest companies, such as Russia's largest company Gazprom. Moscow accounts for 17% of retail sales in Russia and for 13% of all construction activity. Since the 1998 Russian financial crisis, various business sectors in Moscow have shown exponential rates of growth. Many new business centers and office buildings have been built in recent years, but Moscow still experiences shortages in office space. As a result, many former industrial and research facilities are being reconstructed to become suitable for office use.
However, while the overall stability has improved in the recent years, crime and corruption continue to remain a problem hindering business development.

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Album name:World & Travel
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Keywords:#history #then #now #moscow #russia
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Date added:Jun 17, 2009
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