Russia’s threefold economic misery

Huge economic pressures face Russia under President Vladimir Putin (photo:dpa)
Huge economic pressures face Russia under President Vladimir Putin (photo:dpa)

Sanctions and the tumbling global price of oil have sent the Russian economy spiralling towards recession. But despite pending economic woes, Russia's economy with its robust reserves is healthier than those of many major nations. However, the Russian economy is far from invulnerable. Indications are that Russia is turning in on itself. Yet to achieve a rebound in potential growth, Russia must open up its economy - especially to inward investment.

THE PERFORMANCE of Russia’s economy is one that many countries - not only Greece, Italy or France but even the United States - could only dream of.

• Its public debt remains below 10 per cent of Gross Domestic Product (GDP)

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