N. Zubarevich tr. Meng Lingxia
Abstract: Since the collapse of the Soviet Union till nowadays, Russia has undergone four economic crises in total. Yet, Russia is now facing a crisis different from previous ones in that it started internally and it is a crisis triggered off by adverse social institution and the old growth pattern has come to an end. Since 2013, industry has stagnated, investment has dropped and there has been a debt overhang; and the budgeted debts of various regions have increased. In 2014 and 2015, raw material prices continued declining and more fields were affected. Analysis of the influences of the crisis on the economies of Russia’s various regions, the increases/decreases of Russian Federation’s budgets and appropriation amounts of Ministry of Finance of Russian Federation to local governments, and the data of the debts, investments, resident’s per-capita actual incomes, unemployment rates and so on of the main bodies of Russian Federation indicates that although the crisis since 2013 has been unpromising, it’s a slowly evolving crisis and the process will be long and the crisis will continue. The most worrisome consequence is that people will be accustomed and adapted to the crisis gradually and decline therefrom.
Key words: Russia; economic crisis; fiscal budget; debt; actual income; unemployment rate; population