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Finance of Russia

The minimum monthly wage in Russia is 153 USD. Russia has a government debt of 31.2% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in Russia is 6.8%. The currency of Russia is Russian ruble. The Russian ruble is the official currency of The Russian Federation. The history of the ruble dates back to 1704 when it was first introduced by Peter the Great. The Russian ruble is not a stable currency and should not be considered a reliable investment opportunity. The plural form of the word Russian ruble is rubles. The symbol used for this currency is ₽, and it is abbreviated as RUB. The Russian ruble is divided into kopeyka; there are 100 in one ruble. Each year, consumers spend around $1,089,144 million. The ratio of consumer spending to GDP in Russia is 0.05%, and the ratio of consumer spending to the world consumer market is 253%. The corporate tax in Russia is set at 20%. VAT in Russia is 18%.

Gross Domestic Product

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Russia is $3,576,841 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Russia was last recorded at $24,845,263. PPP in Russia is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Russia is 2,096,774 billion. Based on this statistic, Russia is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in Russia. The Gross Domestic Product (GDP) per capita in Russia was last recorded at $14,564,500. The average citizen in Russia has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Russia averaged 0.5% in 2014. According to this percentage, Russia is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.