Can Russia Break Its Oil Dependence?

Despite improving oil prices, Russia’s economic growth is
slowing, with GDP rise for the third quarter at 1.8 percent on an
annual basis, versus 2.5 percent for the second quarter, Russia’s
state statistical bureau, Rosstat, said earlier this week. Analysts
say it’s the latest indication that Russia’s economy needs major
reforms. Let’s state the obvious: Russia needs an economy overhaul
that will reduce the contribution of oil to its budget revenues.
This overhaul is something that the central bank governor
Elvira…

Despite improving oil prices, Russia’s economic growth is
slowing, with GDP rise for the third quarter at 1.8 percent on an
annual basis, versus 2.5 percent for the second quarter, Russia’s
state statistical bureau, Rosstat, said earlier this week. Analysts
say it’s the latest indication that Russia’s economy needs major
reforms. Let’s state the obvious: Russia needs an economy overhaul
that will reduce the contribution of oil to its budget revenues.
This overhaul is something that the central bank governor
Elvira…