The low rate of growth of the Russian economy is the result of many years of neglect, deepening isolation and the lack of a coherent economic policy.
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Global oil prices have been partly behind the disinflation trend in CEE since late 2014. Hungary, Poland and Romania are among countries with relatively strong inflation impact of rising fuel prices.
Low oil prices have sent Russia’s economy into a recession, and countries on its periphery are being dragged along for the ride as the slump affects both oil exporters and countries that rely on trade and aid from Russia.