Development of Russian economy after the fall of the Soviet Union

Rakhmanov Serdar (2021) Development of Russian economy after the fall of the Soviet Union. Pénzügyi és Számviteli Kar.

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Absztrakt (kivonat)

 After the collapse of the Soviet Union, great economic changes began to take place in Russia, and over the past 20 years it has transformed from an isolated country from a planned economy to a market economy, which has changed the state system. In the 1990s, industrial privatization of enterprises began. But we can observe that this was a long process of privatization from our work. In connection with all the changes after the collapse of the Soviet Union, we can observe a change in the country's economy, as a result of which Russia's GDP continues to decline. In my work, we can observe that already in 1999, the Russian economy begins its recovery process. Despite the fact that there was a recession, Russia was able to resume export and domestic production due to the very low ruble exchange rate. Then Russia returned to its "New Normal", which showed the stability of economic growth. The country's stable economic growth was supported by the high oil price and structural reforms carried out by the Russian government. This led to an increase in GDP, as well as an increase in economic dynamics. The industry of Russia in the 1990s advanced very successfully, Russia was competitive on the world market due to its quality and quantity of oil and gas produced. Russia recently led the first largest export enterprises. In turn, the agricultural part lagged far behind the raw materials business. Due to the fact that there was no competition in the country, agricultural enterprises did not want to make a high-quality product, but after the country started importing, competition from the west began to appear in the country, which provoked them to make better products, thereby removing all bad products. But we can observe that electronics in Russia began to lag behind Western ones and could not oppose it with anything. Also, Russia had to change the banking system after the collapse of the Soviet Union, as we can observe in this work. One of the key changes in the structure of the Russian economy was played by privatization, which helped Russia to advance its economy. All Russian citizens received a voucher where they could choose for themselves how to spend it, invest in funds or shares of enterprises, or exchange it for money. But we can observe that many state-owned enterprises were sold to private enterprises. Small businesses were able to privatize in a short time. Privatization in Russia can be said to have been successful and the government managed to earn $ 10 billion. By 1998, we can observe that the Russian economy began to grow, the average rate per year was 7 percent per year, which provoked an increase in the income of Russian citizens. But we can observe that in 2008 Russia was not ready for the crisis, and when the oil price began to decline, the crisis began in the country. We can observe that Russia was not ready for that turn of events and the Central Bank had to spend a third of its gold reserves to slow down the devaluation of the ruble. Russia also needed to spend about $ 200 billion to support enterprises that were unable to continue to exist. By 2009, Russia managed to stabilize the economy, but after 2010 fires started, leading to drought, which provoked a reduction in agricultural production. All these circumstances have led to a ban on grain exports, and therefore to a decrease in retail trade. But we can see that Russia was still able to catch up with other growing countries, but whether Russia can continue to remain at a high level is currently unknown.

Intézmény

Budapesti Gazdasági Egyetem

Kar

Pénzügyi és Számviteli Kar

Tanszék

Pénzügy Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Pénzügy és Számvitel

Mű típusa:	diplomadolgozat (NEM RÉSZLETEZETT)
Kulcsszavak:	business enterprises, economic development, GDP, Oroszország, privatization, privatizáció, Russia
SWORD Depositor:	Archive User
Felhasználói azonosító szám (ID):	Archive User
Rekord készítés dátuma:	2021. Már. 16. 13:07
Utolsó módosítás:	2021. Már. 16. 13:07

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