The European Bank for Reconstruction and Development (EBRD) maintained its forecast for Russia's GDP dynamics in 2020 unchanged and still expects it to decline by 4.5 percent, while it revised downwards the forecast for 2021 to 3 percent growth from 4 percent indicated in the previous report
LONDON (Pakistan Point News / Sputnik - 01st October, 2020) The European Bank for Reconstruction and Development (EBRD) maintained its forecast for Russia's GDP dynamics in 2020 unchanged and still expects it to decline by 4.5 percent, while it revised downwards the forecast for 2021 to 3 percent growth from 4 percent indicated in the previous report.
According to the fresh report by the EBRD, the Russian economy will be affected by negative consequences of the COVID-19 pandemic and also the oil price decline in 2020. At the same time, the EBRD expressed the belief that the Russian government's economic relief plan had contributed to mitigation of the negative effect of the pandemic.
