wiiw Forecast Reports

RUSSIA: Recession contained at the expense of health outcomes


Vasily Astrov

in: Darkest before the dawn?
wiiw Forecast Report No. Spring 2021, April 2021 , pp. 114-118

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Few restrictions in response to the second wave of the pandemic have resulted in a sharp rise in infections and deaths, but have also mitigated the extent of economic downturn. GDP declined by only 3.1% last year, of which 1 pp was due to oil production cuts. In the baseline scenario, we project a recovery of 3.2% this year, while growth should gradually revert to the long-term average of around 2% in the years thereafter.


Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database

Countries covered: Russia