러시아ㆍ유라시아

Macroeconomic developments in 2019 were favorable, although the outlook was challenging owing to large fiscal and external imbalances. While still weak, the banking sector was recovering from the 2015-16 shocks. Against this background, trade and transportation disruptions associated with the COVID-19 pandemic have had a severe impact on the macroeconomic outlook. Remittances have dropped sharply, and government revenues have declined while health and social spending is being ramped up. The impact of the shock is expected to be the greatest in 2020Q2-Q3.