Russian economy hit by COVID-19 and oil market turmoil
Simola, Heli (15.05.2020)
JulkaisusarjaBank of Finland Bulletin. Blog
JulkaisijaBank of Finland
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi:bof-202005192144
Russia imposed strict lockdown measures similar to many countries, resulting in sharp reductions in demand and production. The collapse of oil prices and Russia’s commitments to cutting back its oil production cause further economic damage. It is very difficult to evaluate Russia’s near-term economic prospects under the current exceptional uncertainty, but we can examine various factors influencing the Russian economy.