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The Russian financial crisis (also called the ruble crisis or the Russian flu) began in Russia on 17 August 1998. It resulted in the Russian government and the Russian Central Bank devaluing the ruble and defaulting on its debt. The crisis had severe impacts on the economies of many neighboring countries.
Russian financial crisis (2014–2016) Annual percentage GDP growth rate of Russia, 2008–2017. Yearly inflation in Russia since 2008. Capital outflow from Russia, billions of USD. The financial crisis in Russia in 2017 (from 2014) [1] [2] was the result of the sharp devaluation of the Russian rouble beginning in the second half of 2014.
The economic impact of the Russian invasion of Ukraine began in late February 2022, in the days after Russia recognized two breakaway Ukrainian republics and launched an invasion of Ukraine. The subsequent economic sanctions have targeted large parts of the Russian economy, Russian oligarchs, and members of the Russian government.
The Great Recession in Russia was a crisis during 2008–2009 in the Russian financial markets as well as an economic recession that was compounded by political fears after the war with Georgia and by the plummeting price of Urals heavy crude oil, which lost more than 70% of its value since its record peak of US$147 on 4 July 2008 before rebounding moderately in 2009.
The Great Recession in Russia was a crisis during 2008–2009 in the Russian financial markets as well as an economic recession that was compounded by political fears after the war with Georgia and by the plummeting price of Urals heavy crude oil, which lost more than 70% of its value since its record peak of US$147 on 4 July 2008 before ...
Russia's economy rebounded sharply from a slump in 2022, annual data will show on Wednesday, but the growth relies heavily on state-funded arms and ammunition production and masks problems that ...
The EBRD report also concluded that Russia's economic activity particularly for household consumption and public spending appeared robust, contradicting recent trends of Russia's expected economic decline. In October 2023, Russian companies had again significantly increased fossil fuel revenues due to higher prices on the global markets.
Difficulties in collecting government revenues amid the collapsing economy and dependence on short-term borrowing to finance budget deficits led to the 1998 Russian financial crisis. In the 1990s, Russia was a major borrower from the International Monetary Fund, with loan facilities totalling $20 billion. The IMF was criticised for lending so ...