The Organisation for Economic Co-operation and Development (OECD) revised up its forecast for Russia's 2020 GDP dynamics and now expects it to decrease by 7.3 percent, according to the new economic outlook
MOSCOW (Pakistan Point News / Sputnik - 16th September, 2020) The Organisation for Economic Co-operation and Development (OECD) revised up its forecast for Russia's 2020 GDP dynamics and now expects it to decrease by 7.3 percent, according to the new economic outlook.
In June, the OECD said that the Russian GDP would decline by 8 percent if the second wave of the coronavirus was avoided.
At the same time, the OECD revised down its forecast for Russia's 2021 GDP dynamics to 5 percent growth. In June the organization expected Russia's GDP to grow by 6 percent next year.
Russia's GDP experienced a 1.4 percent growth in 2019, the OECD noted.
