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The Great Recession in Russia was a crisis during 2008–2009 in the Russian financial markets as well as an economic recession that was compounded by political fears after the war with Georgia and by the plummeting price of Urals heavy crude oil, which lost more than 70% of its value since its record peak of US$147 on 4 July 2008 before rebounding moderately in 2009.
By 2016, the Russian economy rebounded with 0.3% GDP growth and officially exited recession. The growth continued in 2017, with an increase of 1.5%. [145] [146] In January 2016, Bloomberg rated Russia's economy as the 12th most innovative in the world, [147] up from 14th in January 2015 [148] and 18th in January 2014. [149]
The Volga economic region accounted for almost 8 percent of Russia's national GRP in 2008. Popular approval of economic change is well above average in this region, both in terms of the rating of the national economy and the expectation of improvements in their own lives and in the household economy.
The demographic trend spells trouble for Russia's economy, which is already dealing with a severe worker shortage. At the end of 2023, Russia was short a record 5 million workers, according to an ...
Russia's central bank says inflation is rising while the nation's economy cools. These are the key ingredients for stagflation, a scenario that's harder to combat than a recession.
This article is a list of Russian federal subjects by Gross regional domestic product (GRDP). Top 10 Russian federal subjects by largest GDP Russian GDP divided into 2 equal parts. 50% of Russian economy is concentrated in only 10% of Russian area or only 2 federal districts (which together contain nearly half of Russia's population).
North Caucasus economic region accounted for almost 6 per cent of the national GRP in 2008. This region includes the most troubled part of the Russian Federation, the Chechen Republic, and other republics where ethnic tensions are high. Economic capacities are far lower than the average for the country as a whole.
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