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Prime Minister Putin Boom Times in Russia

The Russian economy under Putin is characterized as a transition economy since the fall of the socialist system in the beginning of the 1990’s.

In principle the Russian economy is a market economy adhering to the basic freedom of enterprise and market based pricing mechanisms but the characterization of a transition economy refers to the many features that constitute the inherited socialist institutions still influencing the economy’s operation. Putin as Prime Minster is expected to call the shots in Russia just as forcibly as during his eight year highly successful term as President.

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5Jun2008 | taipan | 0 comments | Continued

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