In the baseline forecast, the Central Bank said that the major decline of the Russian economy in 2020 will be in the second quarter – the decline may reach 8%. “But then begin a gradual recovery of the economy, and so the third quarter will be better than the second, fourth better than third,” – said Nabiullina.
But the economic recovery will be smooth, so the fall II quarter will not be played quickly, said the head of the Central Bank. This means a decline in the economy in 2020.
According to the Bank of Russia, the GDP in the current year will decrease by 4-6%. In 2021, the Central Bank expects growth of 3-5% in 2022 of 1.5-3.5 percent.
