- Russia forces kill two suspected militants in Dagestan raid - Reuters May 20, 2012
- Russia Against Meddling - Manila Bulletin May 20, 2012
- Red Wings' Pavel Datsyuk, Russia to play for world championship gold - Detroit Free Press May 20, 2012
- Joel Brinkley: Under Putin, Russia's relations with US turn icy again - Lincoln Journal Star May 20, 2012
- Russia plays Slovakia in hockey worlds final; Russia tops Finland 6-2 behind 3 ... - Washington Post May 20, 2012
admin
The Russian Economy Has Undergone Massive Changes
The Russian economy has undergone massive changes since the fall of the Soviet Empire, transitioning from a state controlled, socialist structure to a more market-based and globally integrated economy. Economic reforms in the 1990s privatized most industries, and some energy and defense related sectors.
The Russian economy underwent tremendous stress as it moved from a centrally planned economy to a free market system. Difficulties in implementing fiscal reforms aimed at raising government revenues and a dependence on short-term borrowing to finance budget deficits led to a serious financial crisis in 1998.
Lower prices for Russia’s major export earners (oil and minerals) and a loss of investor confidence due to the Asian financial crisis exacerbated financial problems. The result was a rapid decline in the value of the ruble, flight of foreign investment, delayed payments on sovereign and private debts, a breakdown of commercial transactions through the banking system, and the threat of runaway inflation.
Russia, however, appears to have weathered the crisis relatively well. As of 2009 real GDP increased by the highest percentage since the fall of the Soviet Union at 8.1%, the ruble remains stable, inflation has been moderate, and investment began to increase again. In 2007 the World Bank declared that the Russian economy had achieved “unprecedented macroeconomic stability”.
Russia is making progress in meeting its foreign debts obligations. During 2000-01, Russia not only met its external debt services but also made large advance repayments of principal on IMF loans but also built up Central Bank reserves with government budget, trade, and current account surpluses. The FY 2002 Russian Government budget assumes payment of roughly $14 billion in official debt service payments falling due.
Large current account surpluses have brought a rapid appreciation of the ruble over the past several years. This has meant that Russia has given back much of the terms-of-trade advantage that it gained when the ruble fell by 60% during the debt crisis. Oil and gas dominate Russian exports, so Russia remains highly dependent upon the price of energy. Loan and deposit rates at or below the inflation rate inhibit the growth of the banking system and make the allocation of capital and risk much less efficient than it would be otherwise.
In 2003, the debt has risen to $19 billion due to higher Ministry of Finance and Eurobond payments. However, $1 billion of this has been prepaid, and some of the private sector debt may already have been repurchased. Russia continues to explore debt swap/exchange opportunities.
In the June 2002 G8 Summit, leaders of the eight nations signed a statement agreeing to explore cancellation of some of Russia’s old Soviet debt to use the savings for safeguarding materials in Russia that could be used by terrorists. Under the proposed deal, $10 billion would come from the United States and $10 billion from other G-8 countries over 10 years.
On January 1, 2004, the Stabilization fund of the Russian Federation was established by the Government of Russia as a part of the federal budget to balance it if oil price falls. Now the Stabilization fund of the Russian Federation is being modernized. The Stabilization Fund will be divided into two parts on February 1, 2008.
The first part will become a reserve fund equal to 10 percent of GDP (10% of GDP equals to about $200 billion now), and will be invested in a similar way as the Stabilization Fund. The second part will be turned into the National Prosperity Fund of Russian Federation. Deputy Finance Minister Sergei Storchak estimates it will reach 600-700 billion rubles by February 1, 2008. The National Prosperity Fund is to be invested into more risky instruments, including the shares of foreign companies. Shyhkin, Maxim. “Stabilization Fund to Be Converted into National Prosperity”. Retrieved 2007-08-02.
Russia’s Second City Saint Petersburg
Russia’s second city Saint Petersburg in the Gulf of Finland, Baltic Sea, the eastern end of the Neva River delta, is Russia’s gateway to Europe “window”. A population of about 5,000,000 (July 2006). The whole city of more than 40 islands, waterways aspect in the city, over 700 bridges connect the various islands. The beautiful scenery of St. Petersburg, hence the “Venice of the North” in the world. Because it is located in the north latitude of 60 degrees each year in early summer have the phenomenon of the “White Nights”.
The historic city built by Peter the Great in 1703 years, the name to the Orthodox Church of Saints Peter named, it is called St. Petersburg. 1712 to 1918, it has been the capital of Russia, hence the name “Northern Capital”.
After the 1914 outbreak of World War I, Russia and Germany are the enemy, then Russia Slavic cities, “Spengler” instead of “Castle” from the German, St. Petersburg was renamed Petrograd (Petergrad). After the death of Lenin in January 1924, the city was renamed Leningrad (the Leningrad). After the disintegration of the Soviet Union in December 1991, the city resumed its original name St. Petersburg.
In Russian history, the city of St. Petersburg is also a hero. The 1917 February Revolution and October Revolution broke out here. “Aurora” cruiser shelled the Winter Palace now also leaning on the Neva river, the issue of the October Revolution, the first sound of cannons in the artillery head pointing to the Winter Palace.
In the Soviet era of the Great Patriotic War, the city by the German fascist army siege of 900 days and claimed the lives of hundreds of thousands of cold and hunger. But the heroic people of St. Petersburg to rely on their own courage, determination and confidence to guard their city, until the victory against the siege. The honorary title of the Great Patriotic War, the Soviet government granted to St. Petersburg, the “Hero City”, St. Petersburg, the human spirit has become a symbol of the Russian national spirit.
St. Petersburg, famous monuments, there are a large number of famous buildings of the 18th and 19th centuries: the Peter and Paul Fortress, Peter the Great Summer Palace, the Smolny Palace, the Hermitage, Kazan Cathedral, Isa Kiev Cathedral elegant building and colorful. The famous Winter Palace, located in St. Petersburg in Palace Square. Czar was overthrown in 1917, this former Tsarist palace has become a symbol of the October Revolution. In 1922 it became part of the adjacent State Hermitage Museum.
Many famous Russian poets and writers such as Pushkin, Lermontov, Gorky and other people have in this life and writing. The city also gave birth to cultivate the artistic celebrities of Glinka, Tchaikovsky and Shostakovich.
Do You Know About Rich Culture Of Russia
Russia believed to be the major nation in the planet. Coming from Arctic Circle that comprises the tundra region, dense natural forests and lengthy stretches of stunning lakes . Lots of mountain ranges cover the southern part from Black sea to the Caspian.
To the north of the Europe, you definitely will discover large grasslands that are due to the rich fertile soil. The huge benefit for Russia is seventy five% of the populace dwells in developed places that are in the western part of the country. Russia is known for its natural minerals like gas, oil, mines and timber. Hefty manufacturing business has flourished in Russian federation, in this region. Wheat, oats, barley, potatoes, sunflower are couple of of Russia’s farming products. The nation is rich in fish because of its geographic position, that is near to Sea.
Cattle farming is extensively done here. You may be astonished to know the affluent cultural and also medieval morals of the wonderful social groups found right here. In 1990′s Russia met a great monetary fix which resulted in losing control over socio-economic and political problems. Furthermore, when President Yelstin gave over the presidency to Mr. Vladimir in 1998, the region had to go through extremely. In addition to these kinds of unwanted effects, Russian federation continues to be a historic as well as ethnic tradition of the area. Russian federation is bestowed with roughly 2000 libraries, free galleries, about hundred theaters and night clubs to enliven its residents. There are numerous water fountains and even cascades, ponds and spots unveiling the Old Russian lifestyle and regime.
The mountain tops, volcanoes turned to ski inclines, enormous glaciers and twelve sea also increase the luxuriousness of Russia . There are substantial range of conservation areas along with nationwide theme parks wherein the delta of the Volga is popular for its Caspian rose or the lotus. Hot spring is yet another site of interest in Russia that has medicinal and natural and organic curing qualities. After USSR, Russia is the major and the potent nation amongst the rest. With such a splendid ethnical customs, precisely how can easily it be far behind in nurturing flowers ?
Russia imports flowers from all over the world to cater to their individuals. If you wish to give right flowers to any individual, anywhere in Russian federation, they are experts in their work. The renowned and popular flower shop in Russia is sendflowers.ru that has gone web based for over several years. Only by hitting the mouse at your own comfort and ease from home, it is possible to offer perfect flowers to almost any part in Russia. Flowers for each and every function are accessible with them and if in case you require expert assistance, their florist would certainly advise you.
It is indeed pleasant to shop with them. Their know-how and capability will provide you extreme fulfillment. Their professional florists set up the flowers for the suitable occasion and with precision. They present excellent items together with the order.
Russian Dolls And Their Popularity
People who are interested in art and in collecting varieties of artistic things will undoubtedly be attracted to Russian art, culture, history and Russian craftsmanship. Russian culture includes within itself Russian literature, Russian philosophy, Russian folklore, and Russian art. Russian art includes architecture and making of handicrafts. Among Russian handicraft, Russian nesting dolls rank first. Also known as “Matryoshka”, these nesting dolls have a common feature of following a particular theme. The theme may range from the peasant girl (in her traditional dress) to any modern day character.
Vasily Zvyozdochkin, a doll maker and a craftsman, was the first to introduce these handmade dolls. The concept of nesting dolls is to place one doll inside the other in a nested fashion, until there is a tiny little doll inside. Since these are placed one inside the other, every doll can be separated and the separated doll contains a similar doll but in a smaller size.
Although these dolls are synonymous of Russian culture, there are several other handicrafts that are presented as popular Russian souvenirs. Prominent among them include Baltic Amber, Lacquer Boxes, Christmas decorative and even Khokhlomas.
As we all know, Amber is a popular material used in making highly sought after jewelry. The specialty of Amber is that each piece of amber is truly unique and when you rub the amber, it emanates light. There’s hardly a Russian woman whose collection does not contain amber jewelry. Everything right from earrings, rings, bracelets, and necklaces are made from Baltic Amber.
But if you are not a fan of amber jewelry, there’s a wide variety of things to choose from. For example, you could choose from Faberge eggs, lacquer boxes, ceramic figurines, Cheburashka dolls or many other unique Russian collectibles. Thanks to the internet, there are hundreds of online retail shops in the United States that sell Russian souvenirs. Choosing from a US company has its own advantages. These online stores with their base in the United States are often established by Russian artisans and hence assure of quality. In addition, if you would like to gift these to friends and family member, these companies also provide gift-wrapping service.
Therefore, the next time, you are looking for a gift for a wedding or a birthday; do not look further than an online shop that sells Russian handicrafts. Due to the late entry of Russians to the globalization process, there’s very little information about Russia, that’s known to the world. But it’s the Russian dolls that continued to the beacon for popular Russian culture.