Yes, the crisis is here and I can feel it. The main impact is due to dramatic fall of oil prices. The sanctions are secondary to that, although you can argue that finance sanctions demanding faster payoff of the commercial debts result in limited money and investments. Yet, oil price is a much more fundamental factor. Rouble is down, because of that imports become much more expensive. It is also much more expensive to travel abroad. In the country, prices are rising, though much more slowly that the import prices. Some people lose jobs, other companies stop hiring. This year will probably be worse than 2015, but I expect some recovery in 2017 when the economy adapts to new reality.
no subject
The main impact is due to dramatic fall of oil prices. The sanctions are secondary to that, although you can argue that finance sanctions demanding faster payoff of the commercial debts result in limited money and investments. Yet, oil price is a much more fundamental factor.
Rouble is down, because of that imports become much more expensive. It is also much more expensive to travel abroad.
In the country, prices are rising, though much more slowly that the import prices.
Some people lose jobs, other companies stop hiring.
This year will probably be worse than 2015, but I expect some recovery in 2017 when the economy adapts to new reality.