Page 11 - RusRPTApr20

The key indicator is the non-oil deficit. Russia’s economy is still in transition and as it has failed to develop domestic institutional investors that provide a foundation of long-term money it’s markets and economy remain very vulnerable to these shocks. But the non-oil deficit shows that each one of these shocks does less damage than the last one. Thanks to its huge reserves and the fact that corporate Russia has massively deleveraged since 2014 it is well placed to weather this shock with relatively little damage.
2.3 Putin’s special ops to change constitution, extend his term to 2036
Putin changed the constitution to allow him an extra two terms as president running through to 2036 from the previous cap when he would have to step down in 2024.
Putin said on multiple occasions he would not change the constitution, but has
11 RUSSIA Country Report April 2020 www.intellinews.com