Moldovan Economic Crisis
Politicians were accused of embezzling around $1 Billion from public banks. Causes: Lack of jurisdiction in government scandals High poverty rates Effects: Banks lost trust of customers Prime Minister was arrested Citizens protested in fear of the future of their country Ukrainian Embargo on Russia Ukraine is banning more and more Russian products to be sold. It has had a huge impact on their own economy seeing as Russia was their biggest trading partner. Causes: Russia placed an embargo on Ukraine imported items Annexation of Crimea brought tension between the two Effects: Exports decreased Economic growth declined New trade opportunities from Asian countries Loss of jobs Belarussian Recession Belarus’ economy was stalled in 2015. After 15 years of steady growth, 2013 brought early signs of economic decay. Since then, Belarus has focused on putting plans in place for the future like creating more jobs with government programs. Causes: Russia’s economy is slowed Lending money to other countries Adding more FDI’s ( foreign direct investments) More privatization of companies Effects: Better planning for the future Fewer Jobs Less Public Companies Russian Oil Economy Crisis Russia is losing up to 140 billion dollars a year because of falling oil prices and sanctions with countries from the west .Russia wants to raise tax prices on gas to help the severely fast falling economy. Causes: Oil prices have fallen about 30% since June. Effects: Extreme money loss in Russia from 90 to 100 billion annual loss, Russia will go through extreme oil declines and the drying up of wells, if they do not find investors soon. |
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