In the second quarter, the economy shrank by a relatively moderate 8%, and the subsequent rebound has been reasonably strong. However, a recent upsurge in new infections and the currency’s weakening will dampen economic activity in the months to come. In the baseline scenario, GDP is expected to decline by 4.5% this year, with a moderate recovery of 2-2.5% per year projected for 2021-2022.

map Russia
Main Economic Indicators201720182019202020212022
Population, 1000 persons146842146831146765...
GDP, real change in %
GDP per capita (EUR at PPP)178401963019540...
Gross industrial production, real change in %
Unemployment rate - LFS, in %, average5.
Average gross monthly wages, EUR595592660...
Consumer prices, % p.a.
Fiscal balance in % of GDP-
Public debt in % of GDP12.612.012.3...
Current account in % of GDP2.
FDI inflow, EUR mn25296745328548...
Gross external debt in % of GDP31.128.128.9...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


RUSSIA: Economic losses manageable so far, but clouds on the horizon

Vasily Astrov
in: No Quick Recovery in Sight, with Coronavirus Risks Looming Large
wiiw Forecast Report No. Autumn 2020, November 2020 , pp. 104-108
Details and Buy


Monthly Report No. 11/2020

Alexandra Bykova, Branimir Jovanovic, Artem Kochnev and Sergey Markedonov
wiiw Monthly Report No. 11, November 2020
54 pages including 2 Tables and 30 Figures