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Russia Economic Report, No. 44, December 2020 : Russia's Economy Loses Momentum Amidst COVID-19 Resurgence; Awaits Relief from Vaccine.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- World Bank Group.
- Series:
- Economic Updates and Modeling.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Business Cycles and Stabilization Policies.
- Coronavirus.
- COVID-19.
- Disease Control and Prevention.
- Economic Growth.
- Employment and Unemployment.
- Financial Sector.
- Fiscal and Monetary Policy.
- Health, Nutrition and Population.
- Inequality.
- Labor Market.
- Macroeconomics and Economic Growth.
- Monetary Policy.
- Poverty Reduction.
- Social Protections and Labor.
- Trade Liberalization.
- Local Subjects:
- Business Cycles and Stabilization Policies.
- Coronavirus.
- COVID-19.
- Disease Control and Prevention.
- Economic Growth.
- Employment and Unemployment.
- Financial Sector.
- Fiscal and Monetary Policy.
- Health, Nutrition and Population.
- Inequality.
- Labor Market.
- Macroeconomics and Economic Growth.
- Monetary Policy.
- Poverty Reduction.
- Social Protections and Labor.
- Trade Liberalization.
- Other Title:
- Russia Economic Report, No. 44, December 2020
- Place of Publication:
- Washington, D.C. : The World Bank, 2020.
- System Details:
- data file
- Summary:
- In Q2, Russia's GDP contracted sharply, faced with domestic supply and demand, and terms of trade shocks. Yet supported by exports, GDP growth performed slightly above expectations. In the third quarter, as COVID-19 cases declined, restrictions eased and on the back of fiscal, monetary, and regulatory measures. Economic activity showed signs of picking up, as reflected by some resumption in industrial production sectors and services. However, negative momentum is expected to continue in Q4 amidst rising COVID-19 infection rates and re-installment of some mobility restrictions. The COVID-19 pandemic weakened corporate balance sheets, especially in services sectors such as hotels, tourist agencies, railway and airpassenger transportation.
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