Over the past couple of years the Russian economy has seen a much needed jolt. The Russian economy is expanding very quickly, and this is going a long way in ensuring that they become a stable country.
Even though the current economic growth has slowed down, it is still building on the steam that it picked up in 2004 and 2005. According to the CIA Fact Book, at the end of 2004 Russia concluded its sixth straight year of economic growth; which was pegged at approximately 6.5% a year.
Russia has also continued trade and funding talks with countries such as North Korea and Iran.
Russia’s gross domestic product (GDP) has continued to grow over the past couple of years at a rate that most countries cannot sustain. Typically speaking, Russia is experiencing a growth in GDP every year.
On the negative side of the economy, inflation has also been rising steadily which has put a major damper on the economy. During the early 2000’s, the average worker’s wages had fell 30%, and there pensions decreased by as much as 45%. At this time, the economy is in a recovery stage in order to pay back debts, and curb inflation.
