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There has been fairly successful substitution, mainly for food, and on some other parts that go into industrial goods... but it's mainly been on the lower end of the economic scale.
Found on CNN 2 years ago
That's something where they're extremely dependent, not necessarily on Western providers, but on providers that deal in dollars.
Found on CNN 2 years ago
The way they dealt with it in 2014/15, the way they'll deal with it now, is just to take inflation on the chin, enact substitution policies, and use the oil revenue to keep public spending going.
Found on CNN 2 years ago
There's no real opposition, so the standard of living fell in 2014/15.
Found on CNN 2 years ago
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