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2009 OECD Economic Surveys: Russian Federation 2009

image of OECD Economic Surveys: Russian Federation 2009

OECD's periodic survey of the Russian economy. This 2009 edition includes chapters on stabilisation and renewed growth, growth-friendly fiscal policy, more flexible exchange rate policy and more effective monetary policy, making the banking sector more efficient and resilient, and improving regulation in goods and services markets.

English Russian, French

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Stabilisation and renewed growth

key challenges

The Russian Federation enjoyed a decade of strong growth between the 1998 financial crisis and the intensification of the global economic crisis in September 2008, but has since been gripped by a severe recession. The main near-term challenge for policy-makers is to manage the consequences of the economic downturn and limit its severity and duration. Looking beyond the crisis, the overarching challenge is to put in place a sounder growth model, one driven by innovation, investment, and the accumulation of human capital. This will ultimately require reforms in many areas, but this chapter focuses on a limited number of key challenges: 1) further strengthening the macroeconomic policy framework; 2) improving the functioning of the financial system; and 3) raising the levels of competition throughout the economy via streamlined state involvement and lower barriers to entry.

English Russian, French

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