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Socio-Economic Mitigation Measures Targeting COVID-19: International Experience

Monitoring of Russia's Economic Outlook. Moscow. 2020, No. 6, pp. 3-12

10 Pages Posted: 24 Apr 2020

See all articles by Pavel Trunin

Pavel Trunin

Gaidar Institute for Economic Policy

Alexei Evseev

Russian Academy of National Economy and Public Administration under the President of the Russian Federation (RANEPA) - Institute of Applied Economic Research

Farida Iskhakova

Russian Academy of National Economy and Public Administration under the President of the Russian Federation (RANEPA)

Evgeniy Goryunov

Gaidar Institute for Economic Policy

Date Written: April 17, 2020

Abstract

A surge in COVID-19 incidence in early April has shown that the world pandemic has not yet passed its peak. Morningstar and Fitch rating agencies forecast a reduction in global GDP in 2020 by 1.4% and 1.9%, respectively, while the Chinese economy will be the one to be hardest hit by the pandemic, according to Morningstar, Inc. forecasts. Most of the leading economies in the world are launching large-scale programs to provide financial assistance to businesses as a compensation for wages and salaries paid to their employees. A number of developing countries use traditional monetary measures in the form of reduced key rate, increased standing facilities corridor width, and other measures designed to boost liquidity in the money market.

Keywords: pandemic, economic fallout, aid package, compensation for wages

JEL Classification: E31, E43, E51, E52

Suggested Citation

Trunin, Pavel and Evseev, Alexei and Iskhakova, Farida and Goryunov, Evgeniy, Socio-Economic Mitigation Measures Targeting COVID-19: International Experience (April 17, 2020). Monitoring of Russia's Economic Outlook. Moscow. 2020, No. 6, pp. 3-12, Available at SSRN: https://ssrn.com/abstract=3584039 or http://dx.doi.org/10.2139/ssrn.3584039

Pavel Trunin

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

Alexei Evseev

Russian Academy of National Economy and Public Administration under the President of the Russian Federation (RANEPA) - Institute of Applied Economic Research ( email )

Farida Iskhakova

Russian Academy of National Economy and Public Administration under the President of the Russian Federation (RANEPA) ( email )

Vernadskogo Prospect 82
Sredny av. V.O., 57/43
Moscow, St. Petersburg 119571
Russia

Evgeniy Goryunov (Contact Author)

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

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