Abstract:

The economic problems in the last ten years of the Union of Soviet Socialist Republics have deepened after its dissolution, which left the newly founded Russian state in various challenges and successive crises. In the transition period of 1993-2005, Russia had successfully transformed its economy and was able to start its modernization period after 2005. Increases in petroleum products’ prices in this period swiftly improved the macroeconomic indicators of the county, the economic progress and modernization cannot be explained with this revenue alone. Effective policies during the crises, determination in fighting with inflation and reduction in unemployment led the way for increases in gross domestic production. In this paper, we studied the most important economic indicators of Russia, comparing it with the Turkic states that gained their independence in the post-USSR period. We also show the role of political stability in the economic achievements of the Russian state

Keywords: