 Putin suppressed the Chechen insurgency although sporadic violence still occurs throughout the Northern Caucasus.High oil prices and the initially weak currency followed by increasing domestic demand, consumption, and investments helped the economy grow at an average of 7% per year from 1998 to 2008, improving the standard of living and increasing Russia's influence on the world stage.Following the world economic crisis of 2008 and a subsequent drop in oil prices, Russia's economy stagnated and poverty again started to rise until 2017 when, after the prolonged recession, Russia's economy began to grow again, supported by stronger global growth, higher oil prices, and solid macro fundamentals.