Question

Mention 3 features of Russian Economy.

Answer 1

The economy of Russia:

• The ninth largest economy in the world by nominal value and the sixth largest by purchasing power parity (PPP).
• Russia has an abundance of natural gas, oil, coal, and precious metals.
• Transformed from a centrally planned economy to a more market-based and globally integrated economy. Economic reforms in the 1990s privatized many sectors of the industry and agriculture, with notable exceptions in the energy and defense-related sectors.