Since the turn of the century, rising oil prices, increased foreign investment, higher domestic consumption and greater political stability have bolstered economic growth in Russia. The country ended 2007 with its ninth straight year of growth, averaging 7% annually since the financial crisis of 1998. In 2007, Russia's GDP was $2.076 trillion (est. PPP), the 7th highest in the world, with GDP rising 8.1% from the previous year. Growth was primarily driven by non-traded services and goods for the domestic market, as opposed to oil or mineral extraction and exports. Approximately 12.5% of Russians remained below the federally-designated poverty line in 2007, though this is significantly down from 40% in 1998 at the worst of the post-Soviet collapse. The average salary in Russia was $540 (about $920 PPP) per month in August 2007, up from $65 per month in August 1999.
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