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Former communist nation
Controlled economy
Inefficient
Russian Bank
Many collapsed or took large loses
Economic Reforms
Most industry privatized (Not energy or defense)
Some property rights but fraud still rampant
Nominal dollar GDP $1.86 Trillion in 2011
Low unemployment 5.7%
HDI=.788 (55th in world)
Fueled by rising commodity prices and cheap foreign credit
Oil Prices rose to $147.27 per barrel in 2008
Russian banks acquired foreign debt amounting $500 billion
Industries
7.9% agriculture
27.4% Industry
64.7% Service
Slowdown
The ruble has lost about 2.6 percent against the dollar in the past month
The Micex Index sank as much as 1 percent and closed down 0.1 percent at 1,336.84 in Moscow,
High Interest Rates
Inflation slowed to 7 percent in March from 7.3 percent
Large Capital Outflows
4.309 doctors per thousand people
9.66 hospital beds per thousand people
Life Expectancy: 69.85 years
male:64.04 years
female:76.02 years
World Average: 67.88
Population Growth Rate: -0.02%
Eighth Largest Labor Force(75.6 million)
12.7% of population below poverty line
Low Productivity
4.1% of GDP (2008)
country comparison to the world:110
Rising Middle Class
Literacy: 99.6%
Immigration of the educated
Corporate profit tax in Russia is 20 percent
In most Western European countries, it is
more than 30 percent.
Income tax for individuals in Russia is 13 percent
45 percent in Germany
Additional Documents
Mostly spent on military
Russia faces many barriers to development including a corrupt government, broken infrastructure, and a narrow variety of exports. Becasue of its current tax situation, Russia should increase its taxes in order to update its infrastructure, reeducate its work force and improve enviromental regulation enforcement.
Accelerating modernization
Improve Innovation
introduce modern new technologies, to upgrade international standards, particularly transparency, and gender issues
Fight Corruption
Improve Innfrastrcuture
Diversify Exports
Major Exports
World's leading oil producer
Holds the world's largest natural gas reserves, the second-largest coal reserves
top exporter of metals such as steel and primary aluminum
Vulnerable to boom-bust cycles due to volatile swings in global prices
Joined WTO in 2012 reducing trade barriers
Could motivate workforce to be more productive due to increase competition from imports
Foreign Investment 19.7% of GDP (101 in world)
Road density:6 km per 100 sq. km of land
U.S.: 67 Cambodia(2009): 22
Major cities not connected
The distance between Moscow and Krasnoyarsk is over 4,000 miles, but Russia plans to build only about 600 miles of highway this year.
Financed through outside investment
For every $1 billion dollars invested in infrastructure, 1,500 jobs are created
Banking/Financial Institutions
Difficult for non developed regions
Power plants were made during the Soviet-era, which are now decaying
Failure of the Sayano-Shushenskaya dam
Populist President Vladimir Putin
Corruption
Media
Bribes
Elections
Fraud
Narrow rules for candidacy
In 2007, Russia had two sites in the top ten worst polluted areas.
Most pollution caused by industry
Blowing carcinogens into air
Chemical waste in Yenisei River
Lake Baikal
Environmental laws are present, but not enforced
Carbon Dioxide Emissions over Time
Russian Federation200020052006200720082009201020112012201320142015201620172018201920202021202220232024202510.611.311.711.712United States200020052006200720082009201020112012201320142015201620172018201920202021202220232024202519.518.89999999999999918.518.518Russian Projection200020052006200720082009201020112012201320142015201620172018201920202021202220232024202512.4212.7413.0613.3813.714.0214.3414.6614.9815.315.6215.9416.26000000000000216.57999999999998816.89999999999999917.2217.54US Projection200020052006200720082009201020112012201320142015201620172018201920202021202220232024202517.6617.3216.97999999999998616.6416.315.9615.6215.2814.9414.614.2613.9213.5813.2412.912.5612.22
Year
Carbon Dioxide Emissions per Capita (tonnes)
Low Taxes
Low Unemloyment
High Inflation
Barriers
Corruption
Infrastructure
Enviroment
Solution: Increase taxes
Anderson, Norman F. "USRBC White Paper." U.S.-Russia Business Council. CA/LA Infrastructure LLC, 2011. Web. 20 May 2013. .
"CIA." CIA Factbook . N.p., n.d. Web. 12 Apr. 2013
"Data | The World Bank." Data | The World Bank. N.p., n.d. Web. 12 Apr. 2013
Kramer, Andrew E. "Decaying Soviet Infrastructure Shows Its Era." NYTimes.com. New York Times, 20 Aug. 2009. Web. 14 May 2013.
Schwartz, Andrew. "Economic Change in Russia." Center for Strategic and International Studies. N.p., 08 July 2009. Web. 29 Apr. 2013.
"Strategy for the Russian Federation." European Bank for Reconstruction and Development. N.p., 18 Dec. 2012. Web. 20 May 2013. .
Tanas, Olga. "Putin Demands Proposals to Stem 'Alarming' Economic Slowdown."Bloomberg. N.p., 22 Apr. 2013. Web. 29 Apr. 2013.