The Eastern Partnership and Russia in the post-COVID world
The Eastern Partnership and Russia in the post-COVID world

Summary/Abstract: The COVID-19 pandemic has had a severe negative impact on the economies of countries under lockdown. The OECD predicts a decline in annual GDP growth of up to two percentage points for each month that containment measures are in place. In the Eastern Partnership (EaP) countries and Russia, the negative impact of the coronavirus pandemic is further exacerbated by the collapse in oil prices, which directly hits Russia, Azerbaijan and Belarus. In particular, the oil-price drop will likely push Russia into recession, with the International Monetary Fund (IMF) estimating a 5.5 per cent decline in real GDP in this year.

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