A recent survey compared the cost o

A recent survey compared the cost of living for expatriates in cities
around the world. Not surprisingly, the top ten most expensive cities
included Tokyo, London and New York. But more expensive than any
of these was ... Moscow! Less than two decades ago, Moscow was the
heart of the world's biggest planned economy. There was no property for
sale back then. The state-run shops had few consumer goods. Shortages
for simple things like shoes were common. Today, things could not be
more different. Moscow is the centre of a free market with some of the
highest property prices in the world. The state-run shops have been
replaced by expensive shopping centres and designer stores. But the
change has not been easy.
The figures for Russia's real gross domestic product since 1991, when
the economic reforms began, show that the economy has been on quite a14
roller-coaster ride. In 1991 GDP was over $350 billion. That fell
dramatically year after year until 1998, when GDP was just over $220
billion. However, the situation improved again from '98. In fact, Russia's
GDP increased steadily year after year from 1999 until 2006 when it
reached around $740 billion. What caused such a change of fortunes?
Changing over to a completely different economic system could never
be painless. The Russian government of the early 1990s decided to use a
shock therapy approach. They introduced severe fiscal and monetary
policies. The government drastically reduced its spending. It cut
subsidies to its crumbling state industries. Interest rates and taxes were
raised. Government price controls on nearly all consumer goods were
lifted. Only prices for staple goods like food and energy remained
controlled by the government. New laws were introduced to allow
private ownership and businesses to exist.
All of these measures were intended to create conditions for a market
economy to grow. However, they also caused great hardship for
ordinary people. Most workers at that time were on fixed incomes. The
measures caused the cost of living to rise, but their salaries did not rise
at the same rate. To make matters worse, events in the banking system in
1992 caused the money supply to balloon. This resulted in
hyperinflation levels of 2,000%. Despite Russia's enormous reserves of
oil and gas, the economy went into a long and difficult depression.
Finally, in 1998, when an economic crisis hit the East Asian Tigers, oil
prices began to fall around the world. For Russia, it turned a depression
into an economic crisis.
However, from 1999, world oil prices began to rise again. Mostly with
money earned from energy exports, Russia began to pay off its foreign
debts. Inflation fell and the value of the rouble stabilised. The economy
was recovering. GDP grew steadily year after year, and foreign investors
began to show confidence in investing in the country. Moscow's place at
the top of the list of the world's most expensive cities is not enviable.
However, it is a clear sign that the Russian economy has survived a
difficult time.

Результаты (русский) 1:

A recent survey compared the cost of living for expatriates in citiesaround the world. Not surprisingly, the top ten most expensive citiesincluded Tokyo, London and New York. But more expensive than anyof these was ... Moscow! Less than two decades ago, Moscow was theheart of the world's biggest planned economy. There was no property forsale back then. The state-run shops had few consumer goods. Shortagesfor simple things like shoes were common. Today, things could not bemore different. Moscow is the centre of a free market with some of thehighest property prices in the world. The state-run shops have beenreplaced by expensive shopping centres and designer stores. But thechange has not been easy.The figures for Russia's real gross domestic product since 1991, whenthe economic reforms began, show that the economy has been on quite a14roller-coaster ride. In 1991 GDP was over $350 billion. That felldramatically year after year until 1998, when GDP was just over $220billion. However, the situation improved again from '98. In fact, Russia'sGDP increased steadily year after year from 1999 until 2006 when itreached around $740 billion. What caused such a change of fortunes?Changing over to a completely different economic system could neverbe painless. The Russian government of the early 1990s decided to use ashock therapy approach. They introduced severe fiscal and monetarypolicies. The government drastically reduced its spending. It cutсубсидии для его рушится государственных предприятий. Процентные ставки и сборыподнял. Правительство контроль за ценами на почти все потребительские товары былиотменен. Только цены на основные товары, как продовольствие и энергию оставалсяконтролируется правительством. Были приняты новые законы, позволяющиеЧастная собственность и предприятиям существовать.Все эти меры были призваны создать условия для рынкарост экономики. Однако они также вызвало большие трудности дляобычные люди. Большинство работников в то время были на фиксированных доходов. Вмеры вызвали рост стоимости жизни, но их оклады не поднималасьс той же скоростью. Что еще хуже, события в банковской системе в1992 года вызвало денежной массы на воздушном шаре. Это привело кгиперинфляции уровень 2000%. Несмотря на огромные запасы РоссииНефть и газ, экономика пошли в долгой и трудной депрессии.Наконец в 1998 году, когда экономический кризис ударил восточно-азиатских тигров, маслоцены начали падать во всем мире. Для России оказалось депрессиив условиях экономического кризиса.Однако с 1999 года, мировые цены на нефть начали расти снова. Основном сденьги, полученные от экспорта энергоносителей, Россия начала погашения своей внешнейдолги. Инфляция упала и значение рубля стабилизировалась. Экономикавосстанавливалась. ВВП неуклонно год за годом и иностранных инвесторовначал показывать уверенность в инвестировании в стране. Место Москвыв верхней части списка самых дорогих городов в мире не завидное.Однако, это четкий признак того, что Российская экономика пережилатрудное время.