Russian Federation Tenders

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Capital Moscow
ISO 3166 Code RU
Population 146,300,000
Area, Sq KM 17,098,242
Currency Russian ruble
Official Language Russian
GDP, Billion USD 2,096,777
GDP Growth Rate, % 0.5
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % 6.2
Exchange Rate, 1 USD Equals 54.04
International dial code 7
Time Zone GMT+03:00
Internet TLD .ru

The Russian Federation is commonly known as Russia. It is a transcontinental country that extends over much of northern Eurasia including Europe and Asia. Russia is the largest country in the world in terms of total land area and also has the ninth largest population in the world. The Russian Soviet Federative Socialist Republic was Russia’s former name and it was a republic of the Union of Soviet. After the dissolution of the Soviet Union in the year 1991, Socialist Republics (USSR), Russia became the Russian Federation. After the Soviet era, the population, the area and industrial production of the Soviet Union that were situated in Russia passed on to the Russian Federation. The Russian Federation evolved as a great power during the beginning of 21st century and was considered to be an energy superpower as well. Russian Federation is also considered the successor state of Soviet Union in the diplomatic matters. Apart from that it is a permanent member of the United Nations Security Council. The country spreads across a large part of the north of Eurasia. Mainly because of its size, this country portrays both diversity as well as monotony. As far as its topography is concerned, its vegetation, soils and climate display diversity to a great extent. Russia shares its land borders with the several countries like North Korea, Mongolia, China, Kazakhstan, Azerbaijan, Georgia, Ukraine, Belarus, Poland, Lithuania, Latvia, Estonia, Finland and Norway from southeast to northwest, clockwise. Russia is also located quite close to the United States and Sweden and Japan. The coastline of Russia stretches over 37,000 kilometers along the Pacific and Arctic Oceans, as well as the Black, Baltic and Caspian seas. Russia has an access to three of the oceans in the world such as the Artic, Pacific and the Atlantic and hence Russian Fishing fleets contribute immensely to the country’s economy. Russia has worked on its international financial position since the 1998 financial crisis and has shown promising results and improvements. The federal budget has run surpluses since 2001 and ended 2006 with a surplus of 9 percent of GDP. Over the past several years, Russia has used its stabilization fund based on oil taxes to prepay all Soviet-era sovereign debt to Paris Club creditors and the International Monetary Fund. Foreign debt of the country has decreased to 39 percent of GDP, mainly because of decreasing state debt. However, a strong growth can be seen as far as the commercial debt to foreigners is concerned. Per capita GDP of the Russia as of 2013, was estimated at $17,884.

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