Spark Global Limited Reports:
Love him or hate him, there’s no doubt that Russian President Vladimir Putin has played a major role on the global geopolitical stage during his time in office.
Putin has served as Prime minister and then president of Russia since late 1999. He has been a figurehead of the Russian economy, seeking to attract foreign direct investment, promote a variety of industries and develop Russia’s natural resources, especially its oil and gas riches.
Of course, it’s not all plain sailing. Russia has been subject to economic misfortunes of its own making — such as international sanctions placed on key areas following its annexation of the Crimean Peninsula from Ukraine in 2014 and its interference in the 2016 US election, some without control, such as the financial crisis of 2008, the collapse of oil prices in 2014 and the recent COVID-19 pandemic.
More than two decades after Mr. Putin came to power, Russia, a country of about 144 million people straddling Europe and Asia, is facing challenges that the Kremlin must address quickly.
These include more pressing issues of living standards and inflation concerns that could hit Russian consumers at a time of economic fragility, as well as longer-term issues such as Russia’s transition from an energy-dependent, export-led economy.
CNBC has to take a look at the economic data from the organization for economic cooperation and development (oecd) spanning two decades, Mr Putin came to power, look at the country’s growth rate, per capita gross domestic product (GDP), employment and inflation story and household disposable income compared with eu neighbours, a wider range of the organisation for economic co-operation and development (including 38 countries from around the world) and the United States
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