The Current Economic Performance and Competitiveness of Russia: An Assessment

1430 Words6 Pages
Assess Current Economic Performance Introduction Russia is a country that is known for their strong sense of cultural traditions and vast natural resources. However, during the last ten years the country has been rapidly changing. In some cases, these transformations have helped to improve the standard of living and increase tax revenues. While at other times, these shifts are signaling a regression back to many of the policies that were used by communist regimes. To fully understand what is taking place requires: assessing the nation's economic performance during the last 10 years, discussing factors that are contributing to this change, analyzing the culture of the county and studying other areas that are relevant to running a business. Together, these elements will provide the greatest insights as to how Russia has changed from 2002 to 2012. Assess the current economic performance and the competitiveness of this country. How have they changed in the last 10 years? In the last ten years, Russia has become: the largest oil producer, the second largest natural gas distributor and the third highest steel exporter in the world. Moreover, the country has enormous untapped reserves of: oil, natural gas, coal, iron ore and cooper. However, the economic base is split between producers that are focused on exporting certain products abroad. While the rest of the manufacturing sector, is concentrated in domestic markets (which is not as competitive). As a result, the Russian

More about The Current Economic Performance and Competitiveness of Russia: An Assessment

Open Document