The map of Russia

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The map of Russia
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• 1985 The Soviet Union began to collapse
  into independent nations. After years of Soviet
  military buildup at the expense of domestic
  development, economic growth was at a standstill.
  Failed attempts at reform and a stagnant economy
  led to a general feeling of discontent,
  especially in the Baltic republics and Eastern
  Europe.

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• 1991 Soviet Union finally collapsed when
  Boris Yeltsin seized power in the aftermath of
  a failed coup that had attempted to topple
  reform-minded Gorbachev.

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• 1998 The Russian financial crisis (also
  called "Ruble crisis") hit Russia on 17 August
  1998. It was exacerbated by the global
  recession of 1998, which started with the Asian
  financial crisis in July 1997. Given the ensuing
  decline in world commodity prices, countries
  heavily dependent on the export of raw materials,
  such as oil, were among those most severely hit.
  The sharp decline in the price of oil had severe
  consequences for Russia.

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• Goldman Sach invented the term BRIC to describe
  the Brazilian, Russian, Indian and Chinese
  economies. Russian economy is growing very fast.
  Russia ended 2007 with 7 growth of GDP. Russian
  economy is growing annually since the financial
  crisis of 1998.

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• Over the last six years, fixed capital
  investments have averaged real gains greater than
  10 per year and personal incomes have achieved
  real gains more than 12 per year.

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• The federal budget has run surpluses since 2001
  and ended 2007 with a surplus of about 3 of GDP.
  Foreign debt is approximately one-third of GDP.
  The state component of foreign debt has declined,
  but commercial debt to foreigners has
  increasingly risen.

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• These achievements have raised business and
  investor confidence in Russia's economic
  prospects, with foreign direct investment rising
  from 14.6 billion in 2005 to approximately 45
  billion in 2007.

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Inflation approached 12 by year-end.
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What are the perspectives of development?

• ? Existing mix of market-oriented policies and
  state intervention will remain in place, with
  state control over strategic sectors.
• ? Tighter liquidity will dampen investment and
  consumption growth, with real GDP growth slowing
  to an annual average of 6.7 in 2008-09.
• ? High energy prices, strong capital inflows and
  fiscal loosening will continue to fuel
  inflationary pressures.
• ? Strong imports and only moderate export growth
  are forecast to reduce the current-account
  surplus to around 3 of GDP by 2009.

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• According to the World Banks Governance
  Matters VI Governance Indicators for 1996-2006,
  published in July 2007, the level of
  responsibility for the Russian government was
  rated 24 out of 100, along with Mauritania and
  Butan.

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It is difficult to open your business

• The structure of the Russian economy remains
  skewed towards a few giant companies, mostly
  forged from Soviet-era assets. Small and
  medium-sized businesses contribute less than 15
  of GDP. The cost of opening a business is higher
  than in most other countries. Only 5 of firms
  have been created in the past ten years,
  according to the World Bank

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• Anti-government forces committed numerous human
  rights abuses in the internal conflict in
  Chechnya. They continued killing and terrorizing
  local heads of administration.

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• There were also positive developments with regard
  to human rights.
• Reforms initiated in previous years continued to
  produce improvements in the criminal justice
  system

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Population

• 140,702,094 (July 2008 est.)
• Population of Russia
• 127,288,419 (July 2008 est.)
• Population of Japan

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My own experience!
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Pioneers
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