Russian Economy By: Amanda, Declan and Raymond

Problems I n Economy Soviet Union fell in Since then, Russia has been trying to rebuild their economy. Financial crisis in 1998 A main oil company’s CEO was arrested in W eak banking system and poor economic growth also contribute to the falling economy. Economy unstable

Solutions/ Adaptations Went to gold standard to solve financial crisis Open more small and medium sized companies in Siberia Kept social priorities and pensions increased while inflation decreased during economic crisis Trying to keep inflation low by restricting prices, anti-monopoly adjustments and other tactics

Resources Russia has many natural resources such as: gold, nickel, coal, petroleum, copper, fish, bauxite, iron ore, lead, tin, and zinc. In 2009, Russia was the world’s leading exporter of gas. The…forest contains a lot of timber for the Russians to use for building and other important uses

Port Cities Russia has many port cities such as Kaliningrad, St. Petersburg, Murmansk and Vladivostok. These Port Cities are important because they increase the opportunity of trade with other countries. Because of these Port Cities, Russian’s are allowed to get the goods they need.

Kaliningrad: a Baltic port in north-western – No connection to other Russian territories. – Major manufacturing port – Ice-free Vladivostok: South- eastern port in Russia –Only ice-free port in mainland Russia –Biggest ocean port on Pacific coast in Russia –Major industries are fishing and engineering Murmansk: on the Kola Peninsula – worlds largest port located behind polar circle – Most northern non- freezing port in Russia St. Petersburg: major sea port at the east end of the gulf of Finland –Industries include: shipbuilding, engineering, electronics and chemicals –Second main city in Russian federation

Tourism One of the most important to service sector During the financial crisis in 1998, Russian tourism fell Lots of cultural sites in Moscow and St. Petersburg Too much paper work, expensive prices and lack of local marketing limits what tourists can see

Fast Fast Facts Now is second leading producer of oil after Saudi Arabia Rich in oil, natural gas and timber Leading producer of energy and military technology and natural gas Government invest in multi-billion program to boost education, healthcare, agriculture and housing

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