Russian economy has been growing at an
average nominal rate of 6 percent annually for the past
decade. Among the most important factors contributing to its
expansion has been the skyrocketing cost of oil and gas. In
2000, when Vladimir Putin took office, the cost of oil was
approximately $20 a barrel; at the end of his term, it was
five times higher. Meanwhile, the competitiveness of Russian
enterprises has become increasingly fragile because of the
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Library ResourceSeptember, 2013Russia
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