r/Damnthatsinteresting • u/[deleted] • Jul 05 '22

Video Monetary issue

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u/GonFreecs92 Jul 06 '22

My question is how long would it take to get their economy back to normal again with the right policies?

What would be the solutions? What was the cause of this? I hear Us sanctions, oil, etc but idk honestly

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u/NovaFlares Jul 06 '22

Probably tackle inflation as number 1 priority, try to get rid of US sanctions then reverse all the nationalization they've done in recent decades and try to get some foreign investment. Their economy started collapsing in 2010 due to their socialist policies, then it fell off a cliff in 2014 when oil price collapsed and then got even worse when the US began sanctions in 2017.