The HSE concluded that Russia for the first time in 30 years went through the crisis better than the world

For the first time in the post-Soviet period, RUSSIA went through the crisis better than the world as a whole. This is evidenced by the data of a macroeconomic study by the Institute for Development Center of the Higher School of Economics.

Tower experts note that the global economy as a result of the covid-19 pandemic fell by an average of 3.5% in 2020. At the same time, Russian GDP contracted by 3.1%, which is less than expected.

The crisis of 2015 is given as an example - then the country's economy fell by 2.0% due to sanctions, while global GDP grew by 3.4%. After the global economic crisis of 2007–2008, Russia in 2009 showed a decline of 7.8%. Global GDP then declined by only 0.1%.

“For the first time in the entire post-Soviet period, Russia experienced a milder recession than the world as a whole, despite the fact that the global crisis was accompanied by a strong drop in oil prices,” the HSE bulletin says.