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What Helped Russia's Economy Survive in 2015?

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When looking at the negative economic results of the past year, we can find only one reason to be optimistic. Before 2015, many expert economists predicted that the Russian economy would not be able to handle oil prices below $60 per barrel, then they changed the number to under $50 and finally to less than $40.  As we have observed, nothing terrible happened. The Russian economy survived and did not collapse even with the current $36-37 per barrel. It proved a lot more resilient than skeptics gave it credit for.  So what alleviated the consequences of the recession?

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Natylie Baldwin is co-author of Ukraine: Zbig's Grand Chessboard & How the West Was Checkmated, available from Tayen Lane Publishing. Her fiction and nonfiction have appeared in various publications including Sun Monthly, Dissident Voice, (more...)

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