IMF Staff Country Reports

Russia: Recent Economic Developments

Publication Date:

September 22, 1999

Electronic Access:

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Summary:

This paper reviews economic developments in the Russian Federation during 1990–98. Output fell precipitously in 1992–94 in response to the withdrawal of subsidies and the disruption in traditional economic relations, but the decline then began to taper off, and real GDP registered a small increase in 1997. However, the recovery proved short-lived, and GDP was already on a downward trend by the first half of 1998. This contraction was severely aggravated by the economic crisis that erupted in mid-1998.

Series:

Country Report No. 1999/100

Subject:

Arrears Banking Commercial banks Correspondent banking Credit Currencies External debt Financial institutions Financial services Money