Russian GDP Decline To Be Closer To 4% In 2020 - Central Bank

Russian GDP Decline to Be Closer to 4% in 2020 - Central Bank

The decline in the Russian economy will be closer to 4 percent this year, and will start recovering in the first quarter of 2021, the Bank of Russia said in a report

MOSCOW (Pakistan Point News / Sputnik - 30th November, 2020) The decline in the Russian economy will be closer to 4 percent this year, and will start recovering in the first quarter of 2021, the Bank of Russia said in a report.

"The reduction in GDP by the end of 2020 will be closer to 4 percent. In the first quarter of 2021, a resumption of recovery growth is expected," the document says.

At the same time, the ongoing deterioration of the epidemic situation will continue to have a restraining effect on business activity in the coming months, but not as strong as in the second quarter of 2020, the regulator added.