russia

Russian economic crisis

Russian economic crisis

With economic sanctions and a plummeting price of oil, the Russian economy is seeing a real economic crisis. The value of the rouble is falling – causing inflation and a decline in living standards. Government tax revenues are falling as oil tax revenues decline. On top of a falling Rouble, the economy faces recession due to declining export revenues, falling real incomes, a collapse in confidence and higher interest rates. Causes of Russian economic crisis Oil dependent economy. The Russian economy has done well in recent years from high oil and…