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Key findings and observations
  • The general situation in Russia is becoming more stable both financially and politically

  • For the first time in many years, Russia had a non-deficit budget in 2000. This was achieved mainly with the assistance of high oil prices

  • Russia is managing to pay its international debts as they become due

  • The rate of inflation decreased to 20.2% in 2000 and further to 18.6% in 2001 and is expected to land around 14-16% in 2002

  • Unclear tax legislation, complex customs procedures and corruption are still seen as the main obstacles for doing business in Russia

Basic facts on Russia

Russian GDP was cut in half in 1998 but grew again in 2000. In 2001, GDP continued its growth and amounted to USD 264 billion

General macro-economical trends in Russia, St. Petersburg and Moscow