About Russian Federation

General information

Russia, also officially known as the Russian Federation, is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects. From northwest to southeast, Russia shares borders with Norway, Finland, Estonia, Latvia, Lithuania and Poland (both via Kaliningrad Oblast), Belarus, Ukraine, Georgia, Azerbaijan, Kazakhstan, China, Mongolia, and North Korea. It also has maritime borders with Japan by the Sea of Okhotsk, and the U.S. state of Alaska by the Bering Strait. At 17,075,400 square kilometres (6,592,800 sq mi), Russia is the largest country in the world, covering more than one-eighth of the Earth's inhabited land area. Russia is also the ninth most populous nation with 143 million people as of 2012. Extending across the whole of northern Asia and most of eastern Europe, Russia spans nine time zones and incorporates a wide range of environments and landforms. Russia has the world's largest reserves of mineral and energy resources and is the largest producer of oil and natural gas globally. Russia has the world's largest forest reserves and its lakes contain approximately one-quarter of the world's fresh water.

Politics

According to the Constitution of Russia, the country is a federation and semi-presidential republic, wherein the President is the head of state and the Prime Minister is the head of government. The Russian Federation is fundamentally structured as a multi-party representative democracy, with the federal government composed of three branches:

Legislative: The bicameral Federal Assembly, made up of the 450-member State Duma and the 166-member Federation Council, adopts federal law, declares war, approves treaties, has the power of the purse and the power of impeachment of the President.

Executive: The President is the commander-in-chief of the military, can veto legislative bills before they become law, and appoints the Cabinet and other officers, who administer and enforce federal laws and policies.

Judiciary: The Constitutional Court, Supreme Court, Supreme Court of Arbitration and lower federal courts, whose judges are appointed by the Federation Council on the recommendation of the President, interpret laws and can overturn laws they deem unconstitutional.

The president is elected by popular vote for a six-year term (eligible for a second term, but not for a third consecutive term). Ministries of the government are composed of the Premier and his deputies, ministers, and selected other individuals; all are appointed by the President on the recommendation of the Prime Minister (whereas the appointment of the latter requires the consent of the State Duma). Leading political parties in Russia include United Russia, the Communist Party, the Liberal Democratic Party of Russia, and A Just Russia.

Economy

Russia has a market economy with enormous natural resources, particularly oil and natural gas. It has the 10th largest economy in the world by nominal GDP and the 6th largest by purchasing power parity (PPP). Since the turn of the 21st century, higher domestic consumption and greater political stability have bolstered economic growth in Russia. The country ended 2008 with its ninth straight year of growth, averaging 7% annually between 2000 and 2008. Real GDP per capita, PPP (current international $) was 19,840 in 2010. Growth was primarily driven by non-traded services and goods for the domestic market, as opposed to oil or mineral extraction and exports. The average nominal salary in Russia was $640 per month in early 2008, up from $80 in 2000. In the end of 2011 the average nominal monthly wages reached 24,310 RUR (or $810 USD), while tax on the income of individuals is payable at the rate of 13% on most incomes. Approximately 13.7% of Russians lived below the national poverty line in 2010, significantly down from 40% in 1998 at the worst point of the post-Soviet collapse. Unemployment in Russia was at 6% in 2007, down from about 12.4% in 1999. The middle class has grown from just 8 million persons in 2000 to 55 million persons in 2006.