The Russian authorities look confused and remain distant from the country’s population during the spread of the coronavirus. The number of new confirmed COVID-19 cases in Russia increases every day. The government has repeatedly asked citizens to stay indoors. Otherwise, those Russians who do not abide by the rules and violate self-isolation restrictions will have to pay fines. Meanwhile, Russia’s economy has been slowing down for almost 20 years. The pandemic has only deteriorated the economic situation. According to Maxim Reshetnikov, the Minister of Economic Development of the Russian Federation, the economy is losing 100 billion roubles ($1.3 billion) on a daily basis which are great losses for Russian GDP. However, the politician suggests that the country will recover from the coronavirus economic punch since the government is taking all necessary mitigation efforts. The Russian officials have already introduced a stimulus package to respond to the economic distress due to the COVID-19 pandemic. The country’s planned measures are worth around 2.8% of its gross domestic product, said Maxim Reshetnikov. Meanwhile, Russia’s budget deficit may reach 4.5-5.0% of GDP. The government is expected to push down the fiscal gap with the help of borrowings and federal reserves. Thus, in terms of fiat money, Russia is likely to spend around $14 billion from the country’s monetary reserves and borrow €500 billion from the European Union in order to cover budget shortfalls.