Vnesheconombank Institute

BRICS Countries Development Institutions Working Towards New Values in a Post-COVID World

The growing incidence rate of COVID-19 has led to unprecedented isolation measures and restrictions on the activities of a number of services and industries, which has pushed the global economy into a severe economic crisis. The crisis has been further aggravated by the risks and imbalances that had previously built up in the world economy. Read more

Russian Economy During the COVID-19 Pandemic and Energy Market Turbulence

In 2020, the Russian economy was hit by a double shock: pandemic coronavirus and falling oil prices. According to the VEB.RF Institute, the global economy is expected to fall by 4.4% in 2020 with a recovery of 4.8% next year. If the second wave of the pandemic occurs, the global economic downturn may reach –7-8%, and the recovery will be postponed by 1.5-2 years. The economy has passed the trough in Q2 2020. In June, as lockdown was partially lifted and production restarted, the Russian economy began to grow. Oil prices significantly decreased in Q2 2020 and are not expected to recover rapidly. Despite the uncertainty of COVID-19 pandemic, our baseline forecast assumes no new lockdowns across the World. Read more

 

BRICS Countries Development Institutions

The world has endured the initial shock of the COVID-19 pandemic and begun treating and restoring the global system. Unfortunately, there have always been and will always be pandemics, both viral and financial, and it is crucial to understand how the world changes after each of them. The primary dilemma is how to preserve public health and ensure optimal rates of economic development in this difficult situation. Read more