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Today in Russian Business – Dec 19th, 2008

Despite its falling value against the dollar, its new record low against the euro, fears of devaluation and its third fall in a week, this report alleges that Russians still trust their national currency and still want to be paid in rubles.  Unemployment rates are rising, disposable income has seen a shocking‘ drop, and the economy is not expected to grow until the second half of next year.  The head of AvtoVAZ expects the Russian car market to contract by 40-50% next year, as Prime Minister Putin today discusses the possibility of providing domestic car producers with financial aid.