Your feedback is very helpful to us as we work to improve the site functionality on worldbank.org. However, Russia’s education system still faces some important challenges, which are being exacerbated by the COVID-19 pandemic.Although they perform relatively well in traditional or cognitive skills measured by the OECD’s Programme for International Student Assessment (PISA), Russian students fare poorly in collaborative problem-solving skills. OECD line graph shows that GDP Growth in Russia reached an all-time low of -7.8% in 2009 followed by a rapid jump to 4.5% next year. Manufacturing contracted 10 percent, with severe negative impacts in metals production and transport vehicles. Reporting by Anton Kolodyazhnyy and Andrey Ostroukh; Writing by Alexander Marrow; Editing by Jon BoyleFILE PHOTO: People stand on the Great Moskvoretsky Bridge, with the headquarters of Russian Foreign Ministry, the Kremlin towers and the Moscow International Business Center also known as "Moskva-City", seen in the background, in central Moscow, Russia, March 28, 2016.

This page has economic forecasts for Russia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Russia economy. MOSCOW (Reuters) - Russia’s gross domestic product (GDP) declined 4.2% in the first half of 2020, Economy Minister Maxim Reshetnikov was quoted as saying by the Interfax news agency on Wednesday. © Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. "In the absence of any support from the government, our estimate shows that we would have seen a net increase in the poverty level in Russia," Renaud Seligmann, the World Bank's country director in Russia, told Reuters.Seligmann said poverty in 2020 could have jumped to nearly 15% of the population from a baseline projection of around 12%, the level seen last year, had the government not rolled out tax subsidies to support small and medium-size enterprises, benefits for families and other anti-crisis measures.FILE PHOTO: A worker looks on at a construction site in MoscowRussian doctors wary of rapidly approved COVID-19 vaccine, survey showsInvestors in Belarus face 'dictator dilemma', Putin may hold the keyRosneft back in profit in second quarter, oil output down 13%Why a fear of Russia may stop EU sanctioning Belarus over opposition beatingsCOVID-19 has 'decimated' air travel, set back Changi Airport at least 40 years: Ong Ye KungWoman charged with letting man into flat during CB; warrant of arrest issued for man who skipped courtTrump Speechless After Reporter Asks If He Regrets ‘All the Lying’ (Video)Coronavirus: The 15 major developments that happened on FridayYouTuber Chloe Ting defends her workout videos and hits back at bodybuilder’s accusationsDeath of security guard at 1-Altitude could have been prevented if safety standards were met: State Coroner MOSCOW (Reuters) - The World Bank expects Russia's economy to shrink 6% this year, the most since 2009, under pressure from the coronavirus pandemic and falling oil prices, before returning to growth in 2021-2022.Russia's economy has been pummelled by a health crisis that has slowed business activity and demand for oil, its main export, across the globe.Russia's unemployment has soared after lockdowns were imposed across the country earlier this year.

The number of registered unemployed increased even more by 1.4 million people and reached 2.3 million people in May 2020.As in many countries, people’s standards of living in Russia are being significantly affected, including schooling, health services, and mobility.

In the near future GDP growth in Russia is expected to stabilize at the level of 1.5% or higher. Russian President Vladimir Putin has the U.S. Treasury Department to thank for helping his country prepare for a global economic crisis. Risks to Russia’s economy include a more protracted pandemic accompanied by a prolongation of containment measures, a slow and shallow global economic recovery, a further drop in commodity prices, lasting impacts on households and firms, and disruptions in global value chains. In a more adverse scenario, GDP could contract by 9.6 percent in 2020 and recover by a marginal 0.1 percent in 2021.

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