In its base forecast, the Central Bank of Russia proceeds from the fact that the restrictions imposed in connection with the spread of the coronavirus, will be gradually removed in June. This is evidenced by the report of the Central Bank on monetary policy.
“After a deep fall in GDP in the second quarter, the Bank of Russia expects the economic recovery by weakening of restrictive measures. The baseline forecast assumes that the easing of restrictions will begin in June,” the report said. It is noted that a temporary reduction in economic potential because of quarantine measures reflects the adaptation of the world and Russian economies towards the current changes and limits oil production in the OPEC agreement+.
the document also States that the extension of working days until 11 may and the beginning of the weakening of sanitary measures in June, the Russian economy repeat of the global trajectory.
Earlier it was reported that analysts of the Central Bank estimated the reduction in annual GDP due to non-working months 1.5-2 per cent, with quarterly losses range from 4.5 to six percent.