Russia’s response to the virus update: a mix of reasonable macroeconomic policy and somewhat chaotic measures to support the economy

RUSSIA ECONOMICS - Report 03 Apr 2020 by Evgeny Gavrilenkov and Alexander Kudrin

As Russian financial markets bounced back and the ruble strengthened, there is still a great deal of uncertainty about how the situation may evolve in Russia. Even though oil prices have jumped, they may easily go down if the situation deteriorates globally. In trying to address these issues the Russian government has been coming up with various initiatives, some of which appear inconsistent and controversial and will have to be pulled back at some point.

A couple days ago Russian PM Mikhail Mishustin announced a R1.4 trln anti-crisis package. Generally, the plan looks reasonable on the macro level, however, the combination of actions by the authorities affecting particular sectors of the economy looks chaotic at this stage. One can only hope that the government will come up with more business-friendly ideas.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.