Time Magazine: These 5 Facts Explain Russia’s Economic Decline

The Time Magazine published an article on Russia’s economy under sanctions and its potential in the near future. “For the first time since 2009—a low point of the global economic slowdown—Russia is in recession. Its economy will contract 3 percent this year, though Moscow’s $360 billion in cash reserves will cushion the immediate blow” – says the publication. “Still, as President Vladimir Putin continues to try to assert Russian power on the international stage, it has become clear that he is now ruling a “submerging market.” Unless something changes, Russia is in for a slow and steady economic decline. These five sets of stats explain why” – it maintains.

(TIME, International Monetary Fund)

The article gives five reasons why the Russian economy will find it hard to survive in this complicated global economic atmosphere. 

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