Russian Economy

By: Amanda, Declan and Raymond

Problems In Economy

• Soviet Union fell in 1991. Since then, Russia has been trying to rebuild their economy.

• Financial crisis in 1998• A main oil company’s CEO was

arrested in 2003.• Weak 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.

Port Cities• 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

THE END!!!!