Russia's exports this year may experience a contraction of some 13-15 percent amid the COVID-19 pandemic and related economic and trade consequences, Russian Central Bank Governor Elvira Nabiullina said on Friday
MOSCOW (Pakistan Point News / Sputnik - 24th July, 2020) Russia's exports this year may experience a contraction of some 13-15 percent amid the COVID-19 pandemic and related economic and trade consequences, Russian Central Bank Governor Elvira Nabiullina said on Friday.
"As earlier, we expect that the most significant contribution to the drop of GDP in 2020 would be made by the contraction of external demand, which will lead to a 13-15 percent fall in exports," Nabiullina said at a press conference.
In its turn, contraction of Russia's GDP in second quarter of 2020 is estimated at 9-10 percent, the central bank governor underlined.
