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Essay text:
So much so that, by the end of 1992, the money supply had increased 18 times as compared to the start of 92.
STEPS BY THE GOVERNMENT:
• The credit in market went on increasing. Thus the government took up various measures such as tightening fiscal and monetary policies, to curb the money in markets and hence inflation.
DECLINE IN GDP:
• After the dissolution of soviet union in 1991, the Russian economy had passed through high economic instability and deterioration of the GDP, which had come down by 50% till 1996.
• The major reason for this decline was the decline in production of the military and heavy industries which benefited from the skewed practices of soviet union but suffered due to the free market practices...
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