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Central Asian Migrants Worst Hit by Coronavirus Job Losses in Russia

Four in ten migrant workers became unemployed during the crisis.

WINDOW SHOPPING

Idle Moscow Stores Reveal Emerging Economic Scars

Shop vacancy rates in the Russian capital are set to hit a record high, and experts expect a wave of bankruptcies in Russia’s services sector.

Putin’s WWII and Referendum Holidays Cost Russian Economy More Than $5Bln

The government added two extra public holidays to stage delayed Victory Day parade and assist constitutional vote.

Russia’s Top Firms Criticize Government’s Coronavirus Support Package

Businesses report excessive bureaucracy, daily requests for data and fear that political favors will be required in exchange for cheap loans and tax deferrals...

Russia Slashes Interest Rates to Record Low

Central Bank warns Russia’s economic contraction could be sharper than first feared.

PLEBISCITE PREPARATIONS?

Russia Mulls Tax Hike on Top Earners

Authorities consider scrapping the flat income tax system, but analysts suspect pre-referendum wheeze.

SIGNS OF RECOVERY

Consumer Spending Approaches Pre-Coronavirus Levels

Sberbank payments data shows spending levels are just 8% down on last year.

‘LONG AND TEDIOUS’

Russia Starts to Dig Its Way Out of a Coronavirus Economic Hole

The Kremlin will see the post-pandemic state of the economy as a vindication of its conservative doctrine, but there are underlying weaknesses.

SHOPPING DROPPING

Russia’s Shops Reopen Their Doors, But Customers Only Trickle In

Tills are starting to ring as Russia's lockdown eases, but business owners expect revenues to stay lower for longer.

CORONAVIRUS SPENDING

Russia Prices Economic Recovery Plan at $70Bln

Government ramps up the next phase of economic response to the coronavirus.

CORONAVIRUS RECESSION

60% of Russians Have Lost Income Due to Coronavirus

The number of unemployed could be almost 10 million — five times the official rate.

Russia Wants to Spark a Domestic Tourism Boom. Will It Work?

The government is telling Russians to explore their homeland, and borders remain shut.

Only 10% of Russian Businesses Have Received Coronavirus Support

Putin’s business ombudsman warned him that six in ten companies say they are not likely to survive the crisis.

‘UNPRECEDENTED CHALLENGES’

Foreign Firms Seek Level Playing Field in Russia’s Coronavirus Response

The Kremlin must not ignore foreign economic contributions, says new AEB chief Tadzio Schilling.

Russian Ruble Hits 10-Week High on Investor Optimism

The Finance Ministry sold a record volume of government bonds Wednesday, and the government is reportedly mulling increasing foreign currency sales.

Russia’s Unemployment Rate Jumps 30%

Living standards are expected to be the main victim of the coronavirus recession.

CORONAVIRUS RECESSION

Russian GDP Falls 28% in April

Non-working period and oil price crash cut Russia’s economic output by $33 billion.

CORONAVIRUS RECESSION

Profit Slumps Herald More Trouble Ahead for Russia’s Corporate Giants

Russian companies’ first quarter financial results are already showing the impact of the coronavirus. The worst is yet to come.

As the Coronavirus Contagion Grows in Russia, Putin’s Strongman Image Weakens

With an economic crisis heaving into view, the Russian president “looks like an old, sick wolf.”

Russian Investment Slumps to Pre-Crimea Levels

M&A activity crashes as the coronavirus puts corporate expansion on hold.

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