After the Soviet era, Russia experienced a slight recovery in the late 1990s which ended at the end of the decade with the depreciation of the ruble and the default of public debt. This was followed by a recession, a deterioration in the standard of living and an intense flight of capital abroad.
For many observers, the main problem of the Russian economy is that of the banking sector, controlled by "oligarchs", businessmen linked to political power, who often use depositors’ money to support their companies.
|Official Name:||Russian Federation|
|Form of government:||Federal Presidential Republic|
|Prime Minister:||Dimitry Medvedev|
|Currency:||Russian Ruble (RUB)|