The Russian Economy and COVID-19
The Russian Economy and COVID-19

Author(s): Jakub Benedyczak, Maciej Zaniewicz
Subject(s): Politics, National Economy, Economic policy, Government/Political systems, Health and medicine and law
Published by: PISM Polski Instytut Spraw Międzynarodowych
Keywords: Russia; COVID-19; economy; impact; pandemic; GDP;
Summary/Abstract: Russia’s economy will be strongly affected by the COVID-19 crisis. The Russian authorities have not allocated sufficient funds for anti-crisis measures, especially given the context of a global recession, the collapse of oil prices, and a decrease in demand for natural resources. Although the decline in GDP will probably be greater than during the crisis of 1998, Russia’s high foreign-exchange reserves and low foreign debt means its economy will not need external financial support to stabilise the situation.

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