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Energy markets in Russia elsewhere in the world have experienced some serious shocks in recent months, Russian President Vladimir Putin has said. He called for a global effort to balance the energy market.
International rating agency Moody’s expects Russia’s gross domestic product (GDP) to drop by 5.5 percent in 2020 as the pandemic has resulted in the near-shutdown of the global economy.
Moscow will propose a number of initiatives to mitigate the consequences of the pandemic, including in social and economic spheres, to the BRICS bloc member nations, Russian Foreign Minister Sergey Lavrov said on Tuesday.
He made the statement...
With the coronavirus crisis already triggering concerns over food security, some saw the depletion of Russian export quotas for grain as a new and alarming signal.
Distributing money to people as part of coronavirus relief measures could be catastrophic in terms of inflation, according to the Bank of Russia Governor Elvira Nabiullina.
The Bank of Russia slashed its interest rate by 50 basis points on Friday, for the first time since October 2019, to 5.5 percent. The regulator said that further reductions may follow soon.
Russia has everything it needs to cope with the coronavirus crisis, including a “healthy economy” and vast reserves, the country’s President Vladimir Putin has said.
Russians will get a week of paid leave, with a boost to benefits for those most in need, while the wealthiest will have to pay more taxes. All among the measures announced by Vladimir Putin to deal with the effects of coronavirus.
Russian President Vladimir Putin outlined a range of measures on Wednesday to tackle the economic impact of the Covid-19 outbreak. They included making sure that everyone pays their fair share of taxes.