Russia is suffering greatly, in part, due to the falling oil prices as the Ruble's value has been dropping precipitously. Fifty percent of Russia's government's revenue comes from oil. Above you can listen to the first two minutes of the talk from the Economist and here is a great article from the NYTimes which looks at several things taught in macroeconomics including selling of government assets abroad and raising the interest rate. This is an article that I can use for both my economics' classes as well as comparative government.
Tuesday, December 16, 2014
Macroeconomics and Russia's Economy
Russia is suffering greatly, in part, due to the falling oil prices as the Ruble's value has been dropping precipitously. Fifty percent of Russia's government's revenue comes from oil. Above you can listen to the first two minutes of the talk from the Economist and here is a great article from the NYTimes which looks at several things taught in macroeconomics including selling of government assets abroad and raising the interest rate. This is an article that I can use for both my economics' classes as well as comparative government.
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The ruble is rubble mainly because of rapidly declining oil and gas prices. The sanctions helped, yet are not the only contributor to the current devaluation. Sadly, the first to suffer will be Russia's vulnerable emerging middle class. The last to feel the pain will be those who did nothing to economically diversify the country when they could and who embarked on dangerous, deceitful and expensive invasion gambles in Ukraine - Vladimir Putin and his inner circle. Valen from famous Sterling Store online
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