Features of modern Russian economy.

The current state of the economy did not arise from nowhere, and was the result of it is not very effective transfer of state administrative-command to a market model.For the sake of objectivity, it is recognized that translate to other tracks such a huge and unwieldy locomotive was very difficult.That, and the peculiarities of the modern economy of Russia, it is easier to change the economic development model, for example, the Czech Republic and Lithuania, together with their territory and GDP than do similar in Russia.

Life requires change

Since the beginning of the 90s, Russia's GDP has declined steadily.From the privatization of the public sector budget in fact has not been replenished.There is an active export of capital abroad.For some time, the recession slowed the depreciation of the savings of the population - with 90 till 92 years.decline in economic performance was not as strong.

This especially modern Russian economy are such that if we take as a reference point the level of GDP in 1990, then in 2011 it has grown three times.Although from 1990 to 1999 took place an annual decline of 12% to 33%, and to the level of 1990, we came only in 2004.

bright future come

Real growth started by the year 2005.And especially the development of modern Russia's economy lies in the fact that until 1998 it was built under the dictates of the IMF.Basic tools to manage the situation on the recommendations of this esteemed organization were:

  • to fight inflation - a reduction in the money supply (failure to fulfill obligations before the budget organizations, non-payment of salaries, pensions, and so on. D.);
  • overvaluation of the ruble (which made it uncompetitive domestic goods);
  • financing the budget deficit issue of T-bills (government treasury bonds and other government securities).The peak of the release came in 1998 than it was over - we know;
  • high tax rates.

Inflation declined (but at what price - would be seen if placed near a curve of population statistics for the same period).And only in 1999, the lowest point of GDP, began a steady annual growth.After the default, change of government and the Central Bank has changed the economic policy.These events affected the characteristics of the modern economy of Russia.I had to start all over again.

storming market

transition to market formation of the ruble led to its reduction than put domestic producers in a more favorable position.Such features of modern Russian economy attracted investments from abroad, have made capital investments in the country favorable for domestic entrepreneurs.Over the years, Western multinational corporations built factories in Russia.

was lowered tax burden, reduce the number of taxes.In 2002 it was authorized the purchase and sale of agricultural land.These are the features of modern Russian market economy that will ensure the growth of GDP and the increase in the real sector.In 2007, the most significant has been achieved over the past 20 years, the growth of GDP.

Given these features of modern Russian economy, experts Goldman Sachs said that Russia in the next 20 years can bypass the leading European countries in all economic indicators.Recall that the GS - the largest bank, is included in the Dow Jones.