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The Pros and Cons of Russia´s Economy Essay

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Russia’s economy is very complex and also very terrible at the same time. Many other economy’s are also like this but Russia’s is a very interesting thing to learn about. Russia’s economy has many things wrong with it that in the long run could probably affected it in a negative way. But it also has many positive things about it.The negatives and the positives are, in my opinion, are equal in Russia economy. Lets start out with the good things that Russia’s economy has. Russia has an more than enough natural resources. They have plenty of timber, precious metals, oil, gas, and coal. Those resources being exported could easily benefit their economy if it wasn’t for other countries who produce more of the resources taking their potential…show more content…
Another reason that their economy won’t fall is they still have a budget surplus which it’s GDP isn’t very high. And one of the most important reasons is that Russia’s unemployment rate is at one of it’s lowest in Soviet history. So, based on those facts it’s safe to say that the Russian economy isn’t going to crash anytime soon.
Russia’s economy has been becoming tight on public finances but they believe that it’ll help their economy. The reason they think it’ll help their economy is because it help keep inflation under control. They are also trying to get interest rates cut down to a smaller amount which will also help out the economy. The Russian government has been preparing for big unemployment rises due to the monopolies. The monopolies are saying it’ll help people find new jobs but it really won’t because now they’ll be on the unemployment list and will be having the government paying them until they find a new job. By having more people on the unemployment list it adds to the country's debt.
Russia is already in debt and it couldn’t really afford to be put into more. Russia’s national debt is around 6,709,506,270,191. Russia is so large that it makes sense that there national debt is so high. In the U.S. our country isn’t big at all compared to Russia and we are in 11 trillion dollars more in debt then they are. Both the U.S. and Russia need to cut back on spending on unnecessary things and focus on reducing the
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