Why is Russian economy "not good," according to Sergei Guriev?
a. Although Russia cannot qualify for a non-diversified petrostate; the decrease in oil prices hit on Russia hard since nearly 45% of the GDP income coming from the revenues from oil sales.
b. Since Russia is closely integrated into the global financial markets, it was hit hard by the fiscal crisis of 2008, bringing its budgetary deficit to 20% of its current GDP.
c. Although Russia has experienced substantial capital inflows from foreign investors seeking improved protection of property rights and a more predictable judicial system, these investments amount only to 0.2% of the Russian GDP.
d. Russian economy is under the western economic sanctions exacerbated by endemic domestic corruption and the dramatic fall in oil prices, which plunged its revenues from oil sales.



Answer :

Other Questions