Putin's Russia

As our special report this week sets out, Russia confronts grave problems in its economy, politics and society. Its population is ageing and is expected to shrink by 10% by 2050. An attempt to use the windfall from the commodity boom to modernise the state and its economy fell flat. Instead Mr Putin has presided over a huge increase in government: between 2005 and 2015, the share of Russian GDP that comes from public spending and state-controlled firms rose from 35% to 70%. Having grown by 7% a year at the start of Mr Putin’s reign, the economy is now shrinking. Sanctions are partly to blame, but corruption and a fall in the price of oil matter more. The Kremlin decides who gets rich and stays that way. Vladimir Yevtushenkov, a Russian tycoon, was detained for three months in 2014. When he emerged, he had surrendered his oil company.

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