Search from various English teachers...
Russia flagNatalia
The contrast of Dollar and Ruble over the past 20 years. 1. In 1991 the Soviet Union ended and Russian Federation faced the problem of a new currency. The Soviet Union economy was isolated, centralized and planned by the government. Russia decided to get to the market economy. In first five years after the Soviet Union Russia GPD steady declined. The first slight economic growth was in 1997 but at the same time there was the Asian financial crisis, which had a negative impact on the Russian economy. It had led to Russia couldn't repay debts in 1998 and Ruble has devaluated. If before 1998 (since 1991) American Dollar had been cost approximately 6 Rubles what was quite norm, than in 1998 American Dollar reached the price of 30 Rubles within two months. It was a serious blow to Russian economy. Many people have lost their accumulations for their whole life because of the devaluation and illiteracy in currency questions. There was also the outflow of capital from the country. 2. But already in 1999 the Russian economy started recovering. Unexpectedly the low Ruble's exchange rate to world's leading exchange helped the Russian economy. It was good for domestic production and export. 3. Russia is one of the first world's exporters of gas and oil. And oil price increase helped Russia to make the economic growth stable. GPD growth caused by the trust of business communities and customers in favorable future of Russian economy. In consequence of what the foreign investment has increased and the outflow of capital from the country has almost stopped. 4. Though Russia is one of the largest exporter of natural resources its position in the world market is vulnerable, it depends on natural resources price. In 2007 Russian government adopt an economic program to become independent, but the results of it are still unsatisfying. That's why in 2008-2009 Russian economy was again unready for the world economic crisis, because of oil price had fallen and foreign investment in the economy had significantly decreased. Central Bank of Russia spent one third gold-currency reserves to save the economy. 5. This problem had been solved and in 2010 Russian economy started to recover again. But the strong drought and fires in the center of Russia decreased agricultural production which led to ban of grain export and the low developing in other sectors. High oil price supported the Russian economy growth and helped to make the budget deficit less. All this time one Dollar cost approximately 30 Rubles.

Corrections · 0

Don’t miss out on the opportunity to learn a language from the comfort of your own home. Browse our selection of experienced language tutors and enroll in your first lesson now!

Start Learning Today