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.

map Russia
Main Economic Indicators201820192020202120222023
Population, 1000 persons146831146765146460...
GDP, real change in %2.82.0-
GDP per capita (EUR at PPP)194501960020330...
Gross industrial production, real change in %3.53.4-2.6...
Unemployment rate - LFS, in %, average4.
Average gross monthly wages, EUR592660620...
Consumer prices, % p.a.
Fiscal balance in % of GDP2.91.9-4.0...
Public debt in % of GDP12.112.417.7...
Current account in % of GDP7.
FDI inflow, EUR m7453285487581...
Gross external debt in % of GDP28.329.129.4...

Basic data are continuously updated.

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


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
Details and Buy


Monthly Report No. 1/2021

Dimitrios Exadaktylos, Mahdi Ghodsi, Julia Grübler, Tatiana Romanova and Roman Stöllinger
wiiw Monthly Report No. 1, January 2021
50 pages including 2 Tables and 30 Figures