Russia’s GDP contracted nearly 8 percent in 2009, under the pressure of collapsing industrial production, plummeting exports, and rising unemployment and poverty. To counter the crisis, the government enacted a stimulus package equivalent to almost 7 percent of GDP. Carnegie’s Pekka Sutela, the World Bank’s Zeljko Bogetic, and Anders Åslund of the Peterson Institute discussed the effectiveness of the Russian government’s response to the crisis and offered their analyses on where the Russian economy is headed.