How has the economy of Russia changed since the fall of the Soviet Union

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Social Studies

Marina Donaldson

10 May, 12:26

How has the economy of Russia changed since the fall of the Soviet Union

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Nikolas Sparks · Answer 1

After the collapse of the Soviet Union in 1991 and collapse of Russia's controlled economy, a new Russian Federation was created under Boris Yeltsin in 1991. The Russian Federation had multiple economic reforms, including privatization and market and trade liberalization, due to collapse of communism. Though the economy is much more stable compared to the early 1990s, inflation still remains an issue for Russia.