Russia Economic Report, No. 44, December 2020
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World Bank, Washington, DC
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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.
Palabras clave
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