Economic Performance: Difference between revisions
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==Economic Performance Overview== | ==Economic Performance Overview== | ||
The Russian Federation has come a long way in terms of its national economy in the past 10 years. With the end of the country’s financial crisis in 1998, it has made large strides in improvement through macroeconomic policies. In addition, the reforms in fiscal and banking sectors in the Russian economy have made it one of the largest economic recovery projects in recent years. | |||
The financial crisis of 1998 left the world in shock and the Russian Federation crumbled. “The crisis, which involved a default on domestic public debt and a devaluation of the ruble, was a massive shock to the system and a considerable surprise to both Russians and foreign investors.” 23 Currently, Russia has been growing at rapid rates, and seeks to continue to do so. International investors continue to show interest in Russian industry, especially regarding energy resources such as oil, natural gas, and diamond mining. In addition, monetary and fiscal policy is being shaped to benefit the Russian society which in turn is keeping inflation from taking off, and thus keeping Russia from entering another downfall. | |||
==Economic Performance In 2000== | ==Economic Performance In 2000== | ||
Revision as of 03:25, 5 December 2007
Economic Performance Overview
The Russian Federation has come a long way in terms of its national economy in the past 10 years. With the end of the country’s financial crisis in 1998, it has made large strides in improvement through macroeconomic policies. In addition, the reforms in fiscal and banking sectors in the Russian economy have made it one of the largest economic recovery projects in recent years. The financial crisis of 1998 left the world in shock and the Russian Federation crumbled. “The crisis, which involved a default on domestic public debt and a devaluation of the ruble, was a massive shock to the system and a considerable surprise to both Russians and foreign investors.” 23 Currently, Russia has been growing at rapid rates, and seeks to continue to do so. International investors continue to show interest in Russian industry, especially regarding energy resources such as oil, natural gas, and diamond mining. In addition, monetary and fiscal policy is being shaped to benefit the Russian society which in turn is keeping inflation from taking off, and thus keeping Russia from entering another downfall.
