Russia’s economy is very complex and also very terrible at the same time. Many other economy’s are also like this but Russia’s is a very interesting thing to learn about. Russia’s economy has many things wrong with it that in the long run could probably affected it in a negative way. But it also has many positive things about it.The negatives and the positives are, in my opinion, are equal in Russia economy.
Lets start out with the good things that Russia’s economy has. Russia has an more than enough natural resources. They have plenty of timber, precious metals, oil, gas, and coal. Those resources being exported could easily benefit their economy if it wasn’t for other countries who produce more of the resources taking their potential customers. But, Russia’s economy has been bringing themselves up because they are selling lots of gas and oil to countries like Europe and Asia.
Russia’s economy is very stable. Some of their leader say that they are very lucky to have such a stable economy but they don’t really like it. Other countries that are struggling to bring their country out of the hole they dug themselves into, would love to have the type of economy the Russians have because it’s so stable. But the Russians don’t really like it. The reason the Russian’s don’t like it is because they barely get a 2% growth rate which isn’t enough to really be able to make any significant changes to the country with. If Russia had a better political system then they would most likely be making more economic growth then they are now.
Russia’s economy should continue to stay stable for several more years for multiple reasons. Some economists think that Russia’s economy is going to collapse very soon but with a very close look at the way there economy actually works and some of the things that are impacting the economy, you would see that they won’t collapse. The Brent Crude has been really low and will keep the price of oil from getting any lower than it already is or it will cause the price to rise. Another reason the Russian economy won’t fall is because Russia has some of the largest foreign reserves in the world. Another reason that their economy won’t fall is they still have a budget surplus which it’s GDP isn’t very high. And one of the most important reasons is that Russia’s unemployment rate is at one of it’s lowest in Soviet history. So, based on those facts it’s safe to say that the Russian economy isn’t going to crash anytime soon.