According to the latest information the daily number of coronavirus cases in Moscow reached 5,400.
Extract from the report:
"There have been another 10,899 new cases of coronavirus infections in 83 regions of Russia. 43.1% of infected did not show any symptoms. 107 people died from COVID-19. A total of 3,711 people have been discharged from hospitals".
The good news is that the situation is improving on a daily basis since May 3. The number of new cases is expected to decline in a month - that is, after June 3. However, today many companies come back to work and construction sites open in Moscow. Consequently, traffic will increase. Therefore, there is a possibility of accelerated infection growth rate. The consequences will be seen approximately in 10 days, on June 20.
The second positive news is that the Russian authorities are to provide financial assistance to a wide range of citizens. This is a step in the right direction. However, it is clearly not enough. Thus, retail sales in the country fell to 30% in April. In the absence of large-scale direct financial aid to the majority of the population (like it is done in Europe, the US, Japan, etc.), there will be a large contraction in consumer demand. Trade turnover and industry orders will drop. This will lead to prolonged stagnation of the economy at low levels. The state will also suffer: tax revenues to budgets of all levels will drop sharply, deficits will increase regardless of oil prices. As a result, the country will have to increase its public debt to cover deficits. However, the economy will not be able to recover quickly. The Russian government lost time to render financial assistance for people. Most likely, there will be negative consequences in the future.
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