SAINT PETERSBURG: From President Vladimir Putin down, Russian officials have long agreed the country’s economy needs to reform or risk prolonged stagnation as it edges out of the longest recession in 20 years.
But nine months ahead of a presidential election he looks set to contest and win, it remains to be seen if Putin will ever make good on repeated pledges to overhaul the country’s creaking economy.
– Why reform? –
The economic model that saw high energy prices fuel meteoric growth during Putin’s first two terms in power from 2000 to 2008 has run its course.
Now, relying on Russia’s vast oil …read more
Source: The Borneo Post
