Financial Vulnerabilities in Russia

Author(s): Richard Connolly
Editor(s): Matthias Neumann, Robert Orttung, Jeronim Perovic, Heiko Pleines, Hans-Henning Schröder
Series: Russian Analytical Digest (RAD)
Issue: 65
Pages: 2-6
Publisher(s): Center for Security Studies (CSS), ETH Zurich; Research Centre for East European Studies, University of Bremen
Publication Year: 2009

The global financial crisis and the subsequent contraction in global economic output have resulted in a deterioration of Russia's financial position across each sector of the economy. While Russia's finances appeared healthy at the onset of the crisis, the dependence on commodity exports and high levels of external funding ensured that the crisis would affect Russia even more severely than other emerging market economies. Impaired balance sheets across the Russian economy now make it more vulnerable to any future shocks and may also place constraints on future growth.

Download:

English (PDF)