The experts feared that social distancing as the foremost measure to prevent the further expansion of the coronavirus (COVID-19) pandemic, would lead to job cuts in Russia in 2020. Thus, the most feasible employment reduction rate of between 10 and 15 percent could leave from five to eight million people without a job countrywide.
Coronavirus impact on the Russian economy
鈥
The coronavirus-induced crisis, which was enhanced by the drop of crude oil prices had a drastic impact on the Russian economy, the whole effect of which is yet to be seen in the coming months and years. The
expected GDP loss for 2020 in Russia was estimated at around four percent, considering that the critical phase of the crisis and the negative manifestations would affect only 2020. For scenarios with a longer period of COVID-19 impact, the forecast was less optimistic. Shopping malls were the
most affected businesses in the Russian capital during the lockdown.
鈥
Coronavirus (COVID-19) outbreak in Russia
鈥
While there were some cases of coronavirus reported in January 2020 in the Russian territory,
outbreak of the disease in the country started a bit later, in March 2020. Up to date, there were roughly 4.4 million cases of coronavirus confirmed countrywide, roughly three fourths of which has already recovered, and over 27 thousand died as a result of COVID-19. The city of Moscow has been accounting for the highest
number of reported cases in the country since the beginning of the pandemic.
For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated
Facts and Figures page.