There are two primary reasons to stock up on cash in advance of a recession, … A five-month school closure could reduce marginal future earnings by about 2.5 percent per year over a student’s working life.The current crisis underscores the need to tackle structural imbalances in the education system and speed-up important reforms.Better internet connectivity and adoption of digital-based programs could help all students and teachers benefit from new learning platforms, which could also help close gaps in learning outcomes between different socioeconomic groups across Russia.Rigorous impact evaluation and independent quality assurance would help reduce disparities and increase efficiency, supported by initiatives such as coaching programs for teaching staff, sharing of best practices, and inter-regional exchanges.Higher education could be improved with a clear national strategy for internationalization, so that universities will attract more international students once the pandemic is over.Earlier Russia Economic Reports can be downloaded through the You have clicked on a link to a page that is not part of the beta version of the new worldbank.org.

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Economic activity shrank in double-digits in April-May as strict lockdown measures forced closures of non-essential businesses, in turn prompting a broad …

Russia is ranked 34th in the World Bank’s human capital index, and has become one of the global leaders in education outcomes.

And this is not the normal rules of the road, and so it's causing a lot of discomfort.

As a result of the rapid spread of the pandemic, economiesacross the worl…
The COVID-19 pandemic has triggered a deep global economic recession. July 7, 2020. The government forecast for 2009 stood at a 6.7% annual growth rate while a November 2008 In the middle of December 2008 Russian officials confirmed that possibility of a recession was inevitable.


In the first five months of 2020, the federal budget registered a deficit of Rub406.6 billion compared to a surplus of Rub1,283.3 billion in the same period in 2019. 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. Putin emphasized that the new contracts must be struck on new, decreased, price terms – estimated to be 20–30% cheaper than in spring.In November, the volume of Russian paper exports to China decreased by 30–40%, coupled with a 30% drop in prices. In November the industry relied on government funds distributed through In the first half of 2008 Russian construction industry, apparently immune of the global financial squeeze, grew by 22% in nominal money compared to 2007.27 October Vladimir Putin urged the government agencies to increase state purchases of road and housing construction services, arguing that the state must capitalize on the decrease in prices of raw materials.

But it says the recession could be short-lived. The number increased by 84% in a single week ending 3 December. The Russian president said the vaccine has undergone the necessary tests and has shown to produce immunity against COVID-19. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). The state allocated 50 billion roubles to buy ready-to-occupy urban housing from cash-strapped developers. The development of such skills is not only important for the future labor market, but can also be part of an effective response to the COVID-19 crisis, by raising personal resilience, efficiency, and employability of young people.The pandemic has led to school closures which in turn could lead to a learning loss of more than one-third of a Russian school year.