Russian Economy in 2020. Trends and Outlooks (Issue 42)

Publication date
Monday, 31.05.2021

Abramov A.E., Avksent'ev N.A., Apevalova E.A., Arlashkin I.YU., Baeva M.A., Balandina G.V., Barbashova N.E., Barinova V.A., Belev S.G., Berberov A.B., Bozhechkova A.V., Borzyh K.A., Burdyak A.YA., Valamat-Zade A.R., Volovik N.P., Girich M.G., Grishina E.E., Dezhina I.G., Dergachyov A.A., Deryugin A.N., Zemcov S.P., Zubov S.A., Ignatov A.A., Izryadnova O.I., Kazenin K. I., Kaukin A.C., Klyachko T.L., Knobel' A.YU., Koval' A.A., Kuzyk M.G., Larionova M.V., Levashenko A.D., Leonov E.A., Lyashok V.YU., Magomedova O.S., Makarenceva A.O., Makarov A.V., Maleva T.M., Mau V.A., Malginov G.N., Maslov D.YU., Mkrtchyan N.V., Miller E.M ., Milogolov N.S., Nazarov V.S., Polezhaeva N.A., Ponomareva E.A., Ponomarev YU.YU., Popova I.M., Radchenko D.M., Radygin A.D., Saharov A.G., Simachev YU.V., Sisigina N.N., Sokolov I.A., Starodubrovskaya I.V., Sternik S.G., Ternovskij D.S., Tishchenko T.V., Trunin P.V., Uzun V.YA., Fedyunina A.A., Careva YU.V., Hasanova R.R., Cuhlo S.V., CHernova M.I., SHagajda N.I., Shadrin A.E.,Shelepov A.V.

Russian Economy: Trends and Perspectives

The review “Russian Economy. Trends and Outlooks” has been published by the Gaidar Institute since 1991. This is the 42th issue. This publication provides a detailed analysis of main trends in Russian economy, global trends in social and economic development. The paper contains 6 big sections that highlight different aspects of Russia’s economic development, which allow to monitor all angles of ongoing events over a prolonged period: global economic and political challenges and national responses, economic growth and economic crisis; the monetary and budget spheres; financial markets and institutions; the real sector; social sphere; institutional changes. The paper employs a huge mass of statistical data that forms the basis of original computation and numerous charts confirming the conclusions.

Section 1. The Coronavirus Pandemic and Economic Policy Trends   9
1.1. The non-economic nature of the crisis and anti-crisis policy measures  9
1.2. Economic peculiarities of the 2020 shock and anti-crisis policy 13
1.3. Medium-term problems and challenges of economic policy  18

Section 2. Monetary and Fiscal Policy   33
2.1. Monetary policy   33 2.1.1. Monetary policy trends   33
2.2. Fiscal policy  56
2.3. Challenges of international business taxation in the context of digitalization   75

Section 3. Financial Markets and Financial Institutions 83
3.1. The Russian financial market  83
3.2. Municipal and sub-federal debt market  170
3.3. Banking sector  182

Section 4. Real Sector of the Economy  199
4.1. Dynamic and structure of GDP and investments 199
4.2. The industrial production dynamic in 2020   222
4.3. Russian industrial sector in 2020 (based on business survey findings)   233

Section 5. Social Sphere   391
5.1. Incomes and the poverty line of the population 391
5.2. Retail trade, services and consumer prices   395
5.3. Lending and preferential mortgage programs for families with children 400

Section 6. Institutional Changes  449
6.1. Public property management  449
6.2. Coronavirus crisis and company bankruptcies  484
6.3. Platform companies: features of the business model and corporate governance  500

Annex  587

References  611

Authors  659


UDC 338.1(470+571)»2020» 
BBC 65.9(2Рос)

Russian Economy in 2020. Trends and Outlooks. (Issue 42) – М.: Gaidar Institute Publishers, 2021. 668 pp.

Еditors – Alexei Kudrin, doctor of sciences (economics), Аlexander Radygin, doctor of sciences (economics), Sergey Sinelnikov-Murylev, doctor of sciences (economics).

ISBN 978-5-93255-616-0

Full version

Go to other releases