Russian Federation is the largest country in the world with an area of 17, o75, 400 Sq. Km. It is the 9th most Populous country in the world. The borders of this country extends to two continents namely, Asia and Europe which is commonly referred as Eurasia. The capital city of the country is Moscow which is considered to be one of the most modern cities of the world.
Russian Economy is the 8th largest economy in terms of nominal GDP and 6th Largest economy by PPP. Russia has the largest oil reserves in the world as is the largest producer of oil and gas in the world.
It is a developing economy which has adopted the market based economy. It was a centrally planned economy but shifted to market based economy to integrate with the world economy. Macro-economic structure and industry restructing is introduced as the economic reform to change the direction of economy.
Due to 2009 Global Financial Recession the Russian economic Growth declined but soon recovered due to the macroeconomic policies. Russian Government has efficiently managed the economic situation and maintained a good soverign Debt.
13.7% of the population is below the poverty line set by the Russian Government. The currency of Russia is Russian Ruble (RUB). Russia still have unemployment rate of 6%.
Last Updated on : 25th June 2013