Central Bank gave a forecast on the economic recovery in Russia

The annual dynamics of Russia’s GDP in the second quarter of 2020 will be negative, but the economy may begin to recover in the third quarter, the Central Bank said in an informational and analytical commentary.

“According to Bank of Russia estimates, in the second quarter, annual GDP growth rates will become negative due to the significant impact of restrictive measures on economic activity to curb the coronavirus epidemic. Gradual easing of restrictions both in foreign countries and in Russia will create conditions for the restoration of economic activity in the third quarter, ”the TASS regulator quotes. According to forecasts of the Central Bank, Russia’s GDP by the end of 2020 will fall by 4-6%.

Earlier, the report of the Ministry of Economic Development said that the decline in Russia’s GDP over the four months of 2020 amounted to 1.9%.

The newspaper VZGLYAD noted that the Russian economy turned out to be stronger than the western one: the consequences for the Russian GDP were less than for the USA, France or Germany.

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source: rambler