Russia's
government has pushed the country into an economic crisis by not
tackling its financial problems fast enough, former finance minister
Alexei Kudrin has said. His
comments came as the central bank bailed out its first victim of the
collapsing currency and authorities announced a tax on grain exports to
protect domestic stocks. A poll of 11 economists also predicted that
Russia's gross domestic product would fall 3.6 per cent next year. Russia
has been hit by what Economy Minister Alexei Ulyukayev recently called a
'perfect storm' of plummeting oil prices, sanctions related to its
military action in Ukraine, and a flight of investors' capital. A lack
of structural reforms has compounded the problem, making the economy
overwhelmingly dependent on oil revenues."
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