Russia will emerge from the recession in the third quarter, according to Minister

Russia will begin to emerge fully from the recession in the third quarter of 2009, said Tuesday the Russian Finance Minister Alexei Kudrin was quoted by local agencies.

"June was the first month of the start of the crisis in Russian output. But the total home from the recession will be observed in the third quarter," said Kudrin was quoted by Ria Novosti.

Kudrin said that the monthly rate of GDP increased by 0.4% in June and 0.5% in July, adding that the measures taken by the government against the crisis are being realized.

However, the Minister considered that there must be "vigilant," highlighting the many risks that lurk, including many "credit risk" in the U.S., Europe and Russia itself.

The Gross Domestic Product (GDP) shrank Russia by 10.9% in the second quarter of 2009. On the whole this year, the government forecasts a decline in GDP of 8.5%.

Russian President Dmitry Medvedev and his prime minister, Vladimir Putin, said in recent days that is showing the beginnings of economic recovery.