Authors:
Dmitry Rodnyansky
1
;
Elena Drobot
2
;
3
;
Ivan Makarov
4
;
5
;
Natalia Pakhomova
6
and
Marina Titova
7
Affiliations:
1
Kazan Federal University, Kazan, Russia, Russian Federation
;
2
Center of Additional Professional Education, Vyborg, Russia (RU), Russian Federation
;
3
PRIMEC Publishers, Moscow, Russia, Russian Federation
;
4
Financial University under the Government of the Russian Federation, Lipetsk branch, Lipetsk, Russia, Russian Federation
;
5
Institute of Business Career, Moscow, Russia, Russian Federation
;
6
Lipetsk state technical University, Lipetsk, Russia, Russian Federation
;
7
Russian Presidential Academy of National Economy and Public Administration, Lipetsk branch, Lipetsk, Russia, Russian Federation
Keyword(s):
Coronavirus, Economic Growth, Economic Decline, Gross Domestic Product, Pandemic, Real Economy, Restrictive Measures.
Abstract:
In the context of the COVID-19 pandemic, an economic decline is observed in most regions of the world in
2020–2021. The restrictive measures caused a significant reduction in business activity. Falling incomes and
reduced demand of households should be considered as the main channel for the impact of coronavirus on the
economy. All above mentioned in turn causes a reduction yield and a feedback effect. Russian economy has
been significantly affected both by the deteriorating external economic conditions, such as drop in oil prices,
currency fluctuations, financial market volatility, and by the established accepted and voluntary restrictive
measures. The purpose of the article was to analyze the impact of the COVID-19 pandemic on the world
economy in general and Russia in particular. The authors examine macroeconomic statisticsЧ on gross
domestic product (GDP) fluctuations and assess possible economic downturns in the world and in Russia.
Changes in the real sector of the eco
nomy in the world and in Russia are revealed. The results of the study
can be used for further research on the impact of global virus attacks on the socio-economic systems at all
levels.
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