GDP growth: 4.2%

GDP per head: $13,050 (PPP: $32,650)

Inflation: 2.8%

Budget Balance (% GDP): - 6.6

Population: 19.1m

After a hiatus when the main parties put on a united front in the face of the pandemic,
political instability is returning. The main opposition Social Democratic Party is in
disarray, and the minority government, led by the National Liberal Party (PNL), will
serve out the rest of the parliamentary term, which runs until early 2021. The
parliamentary election, due to be held by March, will lead to a centre-right coalition
centred on the PNL. The rally from the pandemic recession will be limited.

Russia

GDP growth: 3.0%

GDP per head: $10,540 (PPP: $28,470)

Inflation: 3.9%

Budget Balance (% GDP): - 2.0

Population: - 2.0

Covid-19 slammed the economy, and low oil prices, soft global demand, cautious fiscal
policy and Western sanctions will slow the recovery in 2021. Constitutional changes
have strengthened the office of the presidency and allowed Vladimir Putin to occupy it,