What is the vulnerability of the Russian economy and what are its main advantages?

UDC 338.24

Authors

Bolshakova I. A.
Student of the O. E. Kutafin University (MSUA), Moscow, Russia

Abstract

This article examines the most vulnerable aspects of the Russian economy, such as the global recession and the shortage of personnel. A global recession could lower oil prices and destabilize the Russian foreign exchange market and inflation. The shortage of labor in the labor market leads to a decrease in the profitability of a number of non-primary sectors and a loss of competitiveness against imports.
However, the economy is interconnected and each of its sectors affects others, and what is an advantage, under certain conditions, both foreign and domestic policy, can become a disadvantage, and vice versa.

Keywords

Russian economy, global recession, labor shortage, inflation, import.