MOSCOW (Pakistan Point News / Sputnik - 22nd May, 2020) Russia's GDP will fall by 9.5 percent year-on-year in the second quarter of 2020, by 6.3 percent in the third, by 5.2 percent in the fourth, while in quarterly terms, growth will begin in the third quarter of this year, Economic Development Minister Maksim Reshetnikov said on thursday.
"In terms of GDP growth, we have an estimate, the first quarter is plus 1.6 percent [in annual terms], the second quarter is minus 9.5 percent, the third quarter is minus 6.3 percent, the fourth quarter is minus 5.2 percent," Reshetnikov said .
"As quarantine restrictions are weakened, GDP growth is expected to resume in quarterly terms from the third quarter on," the minister said.
