How severe is COVID-19 for the Russian economy?
According to the Russian Federal Statistical Service, Russia’s gross domestic product (GDP) lost 3.1 percent in 2020, The lockdown in the second quarter of the year led to a decrease in the population’s real disposable income and closures of small businesses across the country. While most companies introduced remote work opportunities, staff reductions also took place, resulting in rising unemployment and a growing number of applicants for unemployment benefits. Starting from the summer, shops, restaurants, cinemas, and domestic travel services gradually reopened, recovering from the crisis. However, Russia still had border restrictions, except for several countries. That had a negative impact on the air transportation industry, whose revenue declined by nearly 40 percent in the first half of the year.Does Russia have COVID-19 vaccines?
In the global race for COVID-19 vaccines and treatments, Russia was first to register Sputnik V, a vaccine developed by Gamaleya Research Institute. Several countries worldwide authorized the use of Sputnik V and signed delivery agreements with Russia, such as India, Brazil, or Mexico. Even though at the time of the registration, the international and the national community showed skepticism toward the vaccine, its effectiveness was later measured at 91.6 percent. Furthermore, Russia registered two more vaccines against COVID-19, EpiVacCorona by the Vector research center and CoviVac by the Chumakov Center. The COVID-19 mass vaccination in Russia started in January 2021.For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.
