the Current Central Bank forecast assumes a decline in GDP of 4-6% this year.
“Our losses are likely to be less than in many other countries, and less than in the last global crisis of 2007-2009,” said Elvira.
Expected in Russia, GDP decline, in her estimation, is “very deep recession”. “But given the circumstances, this is still significantly less sensitivity to the global economic crisis”, – said the head of the Bank of Russia.
According to the estimates, next year the GDP growth will amount to 2.8 to 4.8 percent. A full return of Russia’s GDP to levels of 2019 will take place only in the first half of 2022.
“We really are waiting for a difficult path of recovery after the pandemic, stated Elvira. But there is every reason to believe, including drawing on the experience of very rapid and flexible measures that we have implemented in recent months, that we will not simply cope, but will help the economy return to sustainable growth”.
