Analyse af Ruslands økonomiske vækst og sanktioner

I have been given the following problemstatement:Why has the Russian Economy had such a low GDP growth the last year?, and I will be solving this by using key variables from chapter 13 in the book Economics.

The GDP growth rate of Russia has decreased from 0.80% in the beginning of 2012 to

-0.01% in the beginning of 2014. This is a decrease on 0.81 PP.

I will analyze why there has been such a rapidly fall in the Russian GDP growth rate by looking at: the GDP, the GDP per capital, the employed persons, the consumer spending, the exports and imports, the personal income tax rate, the sales tax rate and the government spending. I will also compare the Russian economy with the Danish.

The Russian economy is facing its hardest crisis since 1998. The value of the ruble has decreased rapidly against the EUR and the USD. The inflation rate has increased. The consumer spending has fallen. The unemployment rate has grown and the exports have decreased. All of these factors have made the GDP growth rate decrease.

The crisis started when Russia took control of Crimea. This action led to a protest from many countries including The US, The European Union, Australia and Canada against the Russian action. The protesting countries applied economic and administrative sanctions against Russia. These sanctions were for example: the freezing of assets, a ban against lending to major state-owned Russian banks, a travel ban on key politicians etc.