[RussEurope-en-Exil] How Russia is exiting from the Covid-19 induced economic crisis, by Jacques Sapir

How Russia is exiting the Covid-19 induced economic crisis It is now confirmed that Russia has emerged relatively unscathed from the crisis caused by Covid-19. The recession was less severe there than in the main developed countries and in particular in Europe. The rebound of hydrocarbon prices since the fourth quarter of 2020 has undoubtedly helped. But, the government seems more in a hurry to quickly resume a policy of austerity and balance the budget than to continue to support the economy, a choice whose consequences could be detrimental to growth.

The shock of the COVID-19 induced crisis

Russia has therefore suffered significantly less from the effects of COVID-19 than the G-7 countries. If the difference is small with the United States, it is much more important with the other countries, and in particular the European countries.

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Sapir
How Russia is exiting the Covid-19 induced economic crisis

It is now confirmed that Russia has emerged relatively unscathed from the crisis caused by Covid-19. The recession was less severe there than in the main developed countries and in particular in Europe. The rebound of hydrocarbon prices since the fourth quarter of 2020 has undoubtedly helped. But, the government seems more in a hurry to quickly resume a policy of austerity and balance the budget than to continue to support the economy, a choice whose consequences could be detrimental to growth." data-share-imageurl="" style="position:fixed;top:0px;right:0px;">

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