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Russian Space Projects Become More Expensive Due to Crisis
29.03.2015 21:53
Russian Space Projects Become More Expensive Due to Crisis

Russian space projects have risen in price on average by 27 percent because of the current difficult economic situation, Yury Koptev, a representative of the Russian Space Agency Roscosmos said on Tuesday.

      "The crisis in our economics has led to a 27-percent price jump on average for every space project," Koptev said during his press-conference. He added that the Russia's Ministry of Economic Development had probably expected a lower level of inflation.

      According to Koptev, the rise in prices makes some perspectives for Russia's space industry look different. At the same time, Roscosmos doesn't plan to reduce or cancel any of the projects which have been planned for a couple of decades immediately ahead.

      Russia is currently experiencing an economic downturn, partly because of falling oil prices and sanctions imposed on Moscow by the Western countries. The ruble has lost about half its value against the dollar since summer 2014.

Author: Julia Alieva

Tags: Russia in space crisis space exploration economics  

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