Russia Economic Report, No. 44, December 2020 : Russia's Economy Loses Momentum Amidst COVID-19 Resurgence; Awaits Relief from Vaccine
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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| Format: | Report biblioteca |
| Language: | English |
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World Bank, Washington, DC
2020-12-16
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| Subjects: | ECONOMIC GROWTH, ECONOMIC OUTLOOK, BALANCE OF PAYMENTS, MONETARY POLICY, FINANCIAL SECTOR, FISCAL TRENDS, LABOR MARKET, CORONAVIRUS, COVID-19, PANDEMIC IMPACT, PANDEMIC RESPONSE, COVID-19 VACCINATION, GLOBAL VALUE CHAIN, GLOBAL INTEGRATION, |
| Online Access: | http://documents.worldbank.org/curated/en/926731608144556907/Russia-Economic-Report-Russias-Economy-Loses-Momentum-Amidst-COVID-19-Resurgence-Awaits-Relief-from-Vaccine http://hdl.handle.net/10986/34950 |
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