Coronavirus to throw Russia into two years of economic stagnation

As the coronavirus pandemic is gathering pace, the global economic crisis is looming. Putin's decision to extend the non-working regime in the Russian Federation for a whole month, until the end of April, will show an extraordinary and enormous influence on the Russian economy. This decision caused a lot of controversy, but, as Putin's official spokesman Dmitry Peskov said, people's health is more important. The Kremlin considers various scenarios of the development of the economic crisis in Russia. The current state of affairs in the Russian economy falls under the concept of the perfect storm: several major factors work together to cause the economy of Russia to tailspin. It goes about the coronavirus pandemic the decline in oil prices the devaluation of the Russian currency, the ruble, a decline in consumer demand, etc. It appears that there is nothing but negativity around, and there is no light at the end of the tunnel.