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Analysts Fear The Economic Impact Of Russia’s April Coronavirus Shutdown Will Be Catastrophic

Analysts Fear The Economic Impact Of Russia’s April Coronavirus Shutdown Will Be Catastrophic
Russian folk holiday at VDNKh at Moscow
Image by Sherlockpiano

Russia could be heading for its deepest recession in a generation with millions of workers set to lose their jobs, economists have warned, in a stark assessment of the economic costs of the coronavirus outbreak, and Russia’s response to the pandemic.

In an address to the nation Thursday afternoon, President Vladimir Putin extended a shutdown of the Russian economy, ordering non-essential businesses to stay closed until the end of April, giving workers a month-long paid holiday.

Despite the drastic measures, which came as Russia recorded another record increase in coronavirus cases taking the number of official infections to 3,548, the president refrained from offering any kind of economic stimulus package or support to businesses…

To read more visit The Moscow Times.

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