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ECONOMY OF RUSSIA 
The Russian economy underwent tremendous stress as it moved from a centrally planned economy to a free market system despite the country’s well-known wealth of natural resources, its well-educated population, and its diverse - although increasingly dilapidated - industrial base. By the end of 1997, Russia had achieved some well-observable progress. Inflation had been brought under control, the ruble was stabilized, and an ambitious privatization program had transferred thousands of enterprises to private ownership. Some important market-oriented laws had also been passed, including a commercial code governing business relations and the establishment of an arbitration court for resolving economic disputes. But in 1998, the Asian financial crisis swept through the country, contributing to a sharp decline in Russia's earnings from oil exports and resulting in an exodus of foreign investors. Matters came to a head in August 1998 when the government allowed the ruble to fall and stopped payment on $40 billion in ruble bonds.
Russia, however, appears to have weathered the crisis relatively well, though ordinary persons found their wages and pensions dramatically falling.
In 1999, output increased by an officially estimated 3.2%, regaining much of the 4.6% drop of 1998. Of great help was the tripling of international oil prices in the second half of 1999, raising the export surplus to $29 billion (oil and gas dominate Russian exports, so Russia remains highly dependent upon the price of energy). The ruble stabilized, inflation was getting moderate, and investment began to increase again. Russia is making progress in meeting its foreign debts obligations. Russia not only met its external debt services but also made large advance repayments of principal on IMF (International Monetary Fund) loans and also built up Central Bank reserves with government budget and trade.
Fiscal policy has been very disciplined since the 1998 debt crisis, though lack of legislation and, where there is legislation, lack of effective law enforcement, in many areas of economic activity is a pressing issue. Taxation and business regulations remain unpredictable.
On the positive side, the new corporate tax code went into effect and Russian businesses are increasingly turning to the courts to resolve disputes
Nonetheless attitudes left over from the Soviet period will take many years to overcome.

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Работа для студентов-младшекурсников. Начни свою бизнес-карьеру в сети продвинутых кофеен

Работа летом для школьников и студентов в системе HoReCa

Последние 10 тем

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How Marketers Use the Italy WhatsApp Number Database
Cảm nhận khác biệt về nhiệt độ cabin sau khi dán phim cách nhiệt 3M
A Guide to Mastering Slither io
Khám phá xưởng in hộp giấy giá rẻ nhưng chất lượng hàng đầu TP.HCM
Những Tính Năng Vượt Trội Của Quạt Công Nghiệp Và Lợi Ích Thực Sự Với Người Dùng
Jumping Through Dimensions: The Thrill of Geometry Dash
Lâm Đồng Toplist – Giới thiệu các doanh nghiệp kiến trúc xanh Đà Lạt
Lâm Đồng Toplist – Giới thiệu các doanh nghiệp kiến trúc xanh Đà Lạt

Обратите внимание

В связи с повышенным интересом аудитории сайта osvic.ru к публикуемым на сайте рейтингам, специалисты фирмы «Ос.А» в очередной раз предупреждают:

никакой рейтинг не является истиной в последней инстанции!

Для оценки ситуации на рынке, в конкретном случае, образовательных услуг, труда, рейтинги и полезны, и интересны. Пользуйтесь на здоровье, изучайте, сравнивайте, анализируйте, делайте свои выводы на основе рейтинга, но не теряйте здравого смысла. Ведь рейтинги делают люди, а им свойственно ошибаться.


Работа по специальности для молодых инженеров

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Министр финансов РФ Силуанов: зарплаты бюджетников вырастут более чем на 8% в 2023 году
Зарплаты граждан, работающих в бюджетном секторе, будут увеличены на более чем 8% в 2023 году. По словам министра финансов России Антона Силуанова данный прирост соответствует прогнозу роста заработной платы экономики. «Заработные платы работников бюджетной сферы вырастут на уровень прогноза роста заработной платы экономики — более 8%», — заявил Силуанов в кулуарах Совета Федерации. В то же время заработные платы сотрудников правоохранительных органов в 2023 году будут расти опережающими темпами и будут зависеть от динамики инфляции в стране.
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