The last decade of the Russian economic
It’s my training text in order to preparation for the BEC Vantage. I think I’ll have here a lot of such texts :
The last decade the Russian economic authorities have been trying to achieve two fundamental and independent goals – macroeconomic stabilization and economic restructuring. After the financial crisis of 1998 and because of the high oil prices which world markets had during the both Putin’s terms Russia had got excellent opportunities to realize the main reforms in economics. But instead of these the government spent budget surplus we had the last seven or eight years on current expenses, on support of different groups of the population and on support of some ineffective brunches of the national industry.
By experts estimate the necessary reforms have not been finished. And now Russia is face to face with new challenge – world financial and economic crisis.
It remained only to wait a new favorable economic situation for new attempt to carry out reforms.