According to the European Bank for Reconstruction and Development, the slow pace of economic expansion in Russia will stand in the way of critical economic programs that the country’s government is intent on implementing.

The sales of new passenger vehicles and small commercial cars on the Russian market went up by 28 percent in the first eleven months of the year. The number of cars sold from January until November was 1 706 254. Sales were 189 902 in November.

According to Russia’s President Dmitry Medvedev, the country will pursue the objective of achieving the status of a major exporter of food products to world markets. The government is ready to establish the necessary economic mechanisms.

The Russian federal subsurface agency Rosnedra is planning to auction off the rights to explore and mine diamonds in the northwest regions of the Sakha republic, according to the agency’s Yakutsk regional division. The auctions will be conducted on December 28, 2010.

The revenue of passenger air transportation carriers in Russia stood at USD 10.1 billion in 2009. Compound annual growth was 11.4 percent from 2005 to 2009. The volume of passenger transportation increased at a compound annual growth rate of 6.2 percent from 2005 to 2009.