Russian 1,000-ruble banknotes are printed at the Moscow Printing Factory owned by Goznak. After an economic crisis from 2014 to 2017, Russia has pulled itself out of recession but still hasn't moved beyond economic stagnation.
Editor's Note: This assessment is part of a series of analyses supporting Stratfor's 2020 Annual Forecast. These assessments are designed to provide more context and in-depth analysis of key developments over the next quarter and throughout the year. In 2020, Russia's internal focus will be its economic performance, as President Vladimir Putin's United Russia party strives to avoid challengers in upcoming elections in 2021 and 2024. Under economic stagnation, limited purchasing power has threatened the living standards of the Russian electorate and risks invigorating political opposition. Russia has launched numerous initiatives to reignite its economic growth, but the country is under significant external pressure and facing internal bureaucratic and systemic economic challenges, so their intended effects are not guaranteed. For Russia's domestic politics, 2020 will not be a year of formal decisions, but the Russian government's ability to manage its internal pressures will influence its longer-term political success.
