Russia-based Greater Faculty of Economics has ready a report on the Russian economy.
Within the report, it was acknowledged that the Russian economy shrank by 3.1 p.c final yr, whereas the world economy shrank by 3.5 p.c.
It was acknowledged that for the primary time in 30 years, the Russian economy contracted less than the global economy.
“MATE REcession EXPERIENCED”
The next statements had been included within the report:
“For the primary time within the post-Soviet period, Russia skilled a extra average recession than the remainder of the world, regardless of the sharp drop in oil costs mixed with the global disaster.”
SHOWN BY 2 PERCENT IN 2015
Within the report, it was acknowledged that the Russian economy shrank by 2 p.c in 2015 as a result of sanctions, whereas the world economy grew by 3.4 p.c.
CONTRACTION IN 2008 7.8 PERCENT
It was additionally reminded that whereas the global economy shrank by 0.1 p.c in the course of the 2008 disaster, the Russian economy shrank by 7.8 p.c.
The report additionally included the results of the coronavirus on the Russian economy.
It was famous that the epidemic brought about a lower in shopper exercise, difficulties in sustaining manufacturing, sharp declines in export volumes and global oil costs.
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