While this country's economy seems to be getting stronger every day, the Russian economy is still in shambles after years of decline. Yet even with all of the horror stories of the falling value of currency and joblessness rates, there is some hope in the future. Casimir Norkeliunas, associate professor of modern languages at Marist College, said that he has seen positive changes in Russia during the past year.
People seem more optimistic about the future of the economy.
The Russian economy has fallen hard on its face in the past couple years, beginning in 1995 when the ruble dropped sharply. In fact, the American dollar is now worth 5,000 rubles-an all time low. According to Norkeliunas, the despair is evident everywhere you go in Moscow. But the Russian government has been working to stabilize the currency and has just recently succeeded in doing so. While it is still falling compared to the American dollar, it is now a managed fall, according to Out There News, a web-based online news agency.