11. How has the Russian Economy changed since the breakup of the Soviet Union?
Unit 5 Lesson 4, Topic 7 Lesson 4
Since the breakup of the Soviet Union, the Russian economy has undergone significant changes. The economy transitioned from a centrally planned system to a more market-oriented economy. This transition was met with challenges including high inflation, unemployment, and corruption.
Over the years, Russia has implemented various economic reforms to stabilize the economy and attract foreign investment. The country has diversified its economy, moving away from a heavy reliance on oil and gas exports.
Despite these changes, the Russian economy still faces challenges such as income inequality, dependence on natural resources, and geopolitical tensions with the West. Overall, the Russian economy has shown some improvement since the breakup of the Soviet Union, but there is still room for further growth and development.