A woman wearing a protective mask carries a grocery bag in Dedovsk, Russia, on April 16, 2020. To contain the COVID-19 outbreak, Russian President Vladimir Putin recently extended the government’s national stay-at-home order until May.
Despite the likely dire economic impact of the COVID-19 pandemic, the Russian government has continued to resist significant stimulus spending, which has resulted in limited support measures that are unlikely to protect all of Russia’s businesses. This will ultimately hamper Russia’s long-term economic recovery -- a self-inflicted wound as a result of Moscow’s unwillingness to change its conservative spending practices, even in the face of a historic global crisis. ...
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