Due to its invasion of Ukraine, Russia faces the largest coordinated economic sanctions ever imposed on a country. Russia’s economy will be hit very hard, with a deep recession looming in 2022. GDP is expected to contract by 11.2 percent, with little recovery in the ensuing two years. Households will be deeply impacted by the crisis, with a projected additional 2.6 million people falling below the national poverty line. This Macro Poverty Outlook presents GDP, debt and fiscal forecasts and examines the implications for critical economic and social concepts such as growth, poverty reduction and macroeconomic stability.
Details
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Author
World Bank
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Document Date
2022/04/22
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Document Type
Brief
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Report Number
170621
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Volume No
1
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Country
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Disclosure Date
2022/04/22
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Disclosure Status
Disclosed
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Doc Name
Macro Poverty Outlook for Russian Federation : April 2022
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Citation
World Bank
Macro Poverty Outlook for Russian Federation : April 2022 (English). Macro Poverty Outlook (MPO) Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/099053504222211133/IDU0c72f82f302430046a80b0400a3effeb3e549