Russia’s Economy: What Do the Numbers Tell Us?

Founded in the 12th century, Moscow Knezligi broke the Mongol rule for 200 years (13th century – 15th century) and over time captured the other princes in the region. At the beginning of the 17th century, the Romanov Dynasty and Russia’s expansion policy continued towards Siberia and the Pacific.

During the reign of Pyotr, known as adı Deli Petro i in the Turkish history between 1682-1725, the expansion continued into the Baltic Sea and the name of the country became the Russian Empire. In the 19th century, Russian territory continued to expand in Asia and Europe. In the Russo-Japanese War between 1904-1905, the losing side of Russia brought the 1905 Revolution, also known as the Bloody Sunday in the country , and many reforms, including the establishment of a parliament, entered into force.

With the great losses of Russia in World War I , the royal family was deposed by the Bolshevik Revolution in 1917 as a result of the great uprisings in the country . The communists led by Vladimir Lenin took power and the Union of Soviet Socialist Republics(USSR) was established.

The violent administration of Isoif Stalin, which cost 10 million people between 1928 and 1953, strengthened communist power in the country. II. World War I (1939-1945) with his ally in the US, the victorious USSR, began to feel the impact of Eastern Europe and the war came as a superpower. II. During the Cold War, these two countries were allied to each other during the Cold War (1947-1991).

The Soviet economy, which started to pause after Stalin, tried to be corrected by Mikhail Gorbachev’s policy of glasnost (openness) and perestroika (restructuring), which he made during the period of 1985-1991 to modernize communism, and Russia and the rest of the USSR in December 1991. the Soviet Union was officially demolished.

After the economic and political problems during the reign of Boris Yeltsin in 1991-1999, Russia, Vladimir Putin (2000-2008, 2012-), the legitimacy of the elections under the leadership of Vladimir Putin (2000-2008, 2012-), good-looking moves to the public, focused on increasing the geopolitical importance of the country a central authoritarian regime, which bases its growth on economic growth.

Today Russia is faced with a rebellion movement in Chechnya and its surroundings, even though it is mostly repressed; Violence can occasionally flare in the North Caucasus.

The country has undergone major changes since the Soviet era, including the transition from a head-to-head economy to a more market-based economy. However, economic growth and reforms have been halting in recent years. The Russian economy now has a state-dominated economy in which most of the wealth is held by state officials .

With the reforms made in 1990, all industries were privatized, with some exceptions, particularly in energy, transportation, banking and defense industry. But property rights are still very weak and the state continues to intervene in the private sector.

Russia is one of the world’s largest producers of natural gas and oil and one of the largest metal exporters, mainly steel and aluminum.

Russia’s economy is dependent on prices of product prices worldwide; The weakest point of the Russian economy is the exposure to the boom and extinction cycles due to the volatility of the prices of the products it sells.

The economy, which grew by an average of 7 percent between 1998 and 2008 with the increase in oil prices, has slowed down due to the growth rate due to the product-based growth model.

The decline in oil prices, international sanctions and structural constraints put Russia in decline in 2015 and the country’s GDP contracted by about 2.8 percent. This decline continued in 2016 with an increase of 0.2 percent, but in 2017, the country’s economy began to recover as oil demand increased in the world.

Recently, the state has been supporting the import substitution in order to save and diversify the economy from dependence on the natural resources extracted.

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