Russia fulfills economic lessons from the collapse of the USSR – RT in Russian
US Russia experts Michael Kofman and Robert Connolly wrote an article for Foreign Affairs, in which they expressed the opinion that Russia expressed economic lessons from the collapse of the USSR.
“Of course, Russia is still trying to find an economic model. Nevertheless, Moscow has managed to strengthen itself in a stable competition with the United States. ” articles.
Experts pointing out that the Russian economy turned out to be not a weak point, but a reliable one, thanks, in particular, to withstanding the sanctions imposed by the West.
According to the authors of the material, Russian politicians have learned lessons from the economic situation in the USSR, as well as “the turmoil of the late Soviet experience and the economic turmoil of the 1990s.” In particular, this concerns the blow to the budget of the Soviet community due to the collapse of the oil market in the 1980s and 1990s. Fears of politicians about a repetition of the situation lead to the creation of special funds.
“The creation of new stabilization funds shortly after Putin took office in 2000 was a direct response to these concerns. These funds allowed Russia to build up reserves from export earnings to help it withstand the macroeconomic impact of surges in oil prices and declining export earnings, ”the report says.
As a result, Moscow has successfully restored its foreign exchange reserves. That is, Russia has adapted to much lower oil prices and has built in shock absorbers that make dependence on energy exports less vulnerable.
Russia also learned a lesson from the USSR’s dependence on imports. The authors of the article note that when the oil shock hit in 1986, one in three loaves of bread was produced using imported grain.
“Under Putin, Russia is reducing its dependence on imports. Analytics is used.
Earlier, during a meeting with the Congress of Young Scientists, Putin said that almost all the tasks of import substitution in Russia have been solved, but it is necessary to continue to remain competitive.
In December, the office of United States Representative Catherine called import substitution in Russia a violation of WTO rules.