economic difficulties did not

*Russia, Economy

abate in the first quarter of 1993. Monthly inflation remained at
double-digit levels and industrial production continued to slump. To reduce
the threat of hyperinflation, the government proposed to restrict subsidies
to enterprises; raise interest rates; set quarterly limits on credits, the
budget deficit, and money supply growth; and impose temporary taxes and cut
spending if budget targets are not met. But many legislators and Central
Bank officials oppose various of these austerity measures and failed to
approve them in the first part of 1993.
National product:
GDP $NA
National product real growth rate:
-19% (1992)
National product per capita:
$NA
Inflation rate (consumer prices):
25% per month (December 1992)
Unemployment rate:
3%-4% of labor force (1 January 1993 est.)
Budget:
revenues $NA; expenditures $NA, including capital expenditures of $NA
Exports:
$39.2 billion (f.o.b., 1992)
commodities:
petroleum and petroleum products, natural gas, wood and wood products,
metals, chemicals, and a wide variety of civilian and military manufactures
partners:
Europe
Imports:
$35.0 billion (f.o.b., 1992)
commodities:
machinery and equipment, chemicals, consumer goods, grain, meat, sugar,
semifinished metal products
partners:
Europe, North America, Japan, Third World countries, Cuba
External debt:
$80 billion (yearend 1992 est.)
Industrial production:
growth rate -19% (1992)
Electricity:
213,000,000 KW capacity; 1,014.8 billion kWh produced, 6,824 kWh per capita
(1 January 1992)
Industries:
complete range of mining and extractive industries producing coal, oil, gas,
chemicals, and metals; all forms of machine building from rolling mills to
high-performance aircraft and space vehicles; ship- building; road and rail
transportation equipment; communications equipment; agricultural machinery,
tractors, and construction equipment; electric power generating and
transmitting equipment; medical and scientific instruments; consumer
durables
Agriculture:
grain, sugar beet, sunflower seeds, meat, milk, vegetables, fruits; because
of its northern location does not grow citrus, cotton, tea, and other warm
climate products
Illicit drugs:
illicit producer of cannabis and opium; mostly for domestic consumption;
government has active eradication program; used as transshipment point for
illic