Russia took up the responsibility for settling the Soviet Union's external debts, even though its population made up just half of it at the time of its dissolution. In 1992, most consumer price controls were eliminated, causing extreme inflation and significantly devaluing the ruble. With a devalued ruble, the Russian government struggled to pay back its debts to internal debtors, as well as to international institutions. Despite significant attempts at economic restructuring, Russia's debt outpaced GDP growth. High budget deficits coupled with increasing capital flight and inability to pay back debts, caused the 1998 Russian financial crisis, and resulted in a further GDP decline.