Abstract
For the Russian economy, the year 2016 was a period of its gradual adaptation to the new conditions determined by low prices for hydrocarbons and mineral resources coupled with the continuing anti-Russian sanctions and Russian counter-sanctions. The annual and quarter-by-quarter behavior of the economy indicated a gradual relaxation of the current crisis with regard to practically all major macro-parameters, brought about by a notable drop in the rate of inflation, changes in the structure of production, the fall in costs resulting from the ruble’s depreciation, progress of the import substitution processes, and a relative stability in the labor market.
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