Russia: Recent Economic Developments
This paper reviews economic developments in the Russian Federation during 1990–98. Output fell precipitously in 1992–94 in response to the withdrawal of subsidies and the disruption in traditional economic relations, but the decline then began to taper off, and real GDP registered a small increase in 1997. However, the recovery proved short-lived, and GDP was already on a downward trend by the first half of 1998. This contraction was severely aggravated by the economic crisis that erupted in mid-1998.
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Volume/Issue:
Volume 1999
Issue 100
Publication date: September 1999
ISBN: 9781451832976
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Business and Economics , Banks and Banking , Exports and Imports , Money and Monetary Policy , ISCR , CR , U , S , dollar , exchange rate , gross domestic product , foreign currency , debt service , economic crisis , federal government , Commercial banks , Correspondent banking , Currencies , Arrears , Asia and Pacific , Global
Summary
This paper reviews economic developments in the Russian Federation during 1990–98. Output fell precipitously in 1992–94 in response to the withdrawal of subsidies and the disruption in traditional economic relations, but the decline then began to taper off, and real GDP registered a small increase in 1997. However, the recovery proved short-lived, and GDP was already on a downward trend by the first half of 1998. This contraction was severely aggravated by the economic crisis that erupted in mid-1998.
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