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Russia devalues the ruble for the sixth time in 2009 and will overhaul the state budget to reflect the sharp decrease in the price of petroleum, its key export. Global financial crisis of 2008–2009: European Central Bank President Jean-Claude Trichet says that global economic growth in 2009 will be "substantially below" December 2008 forecasts.
The total estimated expenditure for 2009–10 was ₹ 10,20,838 crore, of which ₹ 6,95,689 crore was towards Non Plan and ₹ 3,25,149 crore towards Plan expenditure. Total estimated revenue was ₹ 6,19,842 crore, including revenue receipts of ₹ 6,14,497 and capital receipts of ₹ 5345 crores, excluding borrowings.
March 3, 2009: President Obama stated that "Buying stocks is a potentially good deal if you've got a long-term perspective on it". [191] March 6, 2009: The Dow Jones hit its lowest level of 6,469.95, a drop of 54% from its peak of 14,164 on October 9, 2007, over a span of 17 months, before beginning to recover. [192]
Events from the year 2009 in the United States. The inauguration of Barack Obama as the president , occurred on January 20. The nation, still recovering from the Great Recession , received various economic stimuli through the American Recovery and Reinvestment Act of 2009 and similar legislation, which most notably gave Americans tax credits .
US Representative Joe Wilson (R-SC) interrupts President Barack Obama's health care speech to the Congress with an audible shout of "You lie!" (New York Times)Aeroméxico Flight 576, a Boeing 737 carrying 104 people, is hijacked shortly after take-off from Cancún, and forced to land at Mexico City International Airport.
The G-20 finance ministers outline plans for banking reform, including tougher regulation of financial institutions. (MarketWatch) At least 15 people, mostly Bulgarians, drown in Lake Ohrid, Republic of Macedonia, as a tourist boat sinks.
By March 9, 2009, the Dow had fallen to 6,500, a percentage decline exceeding the pace of the market's fall during the Great Depression and a level which the index had last seen in 1997. On March 10, 2009, a countertrend bear market rally began, taking the Dow up to 8,500 by May 6, 2009. Financial stocks were up more than 150% during this rally.