Nabiullina said that GDP growth in 2020 will be negative

Photos: the Agency “Moscow”/Andrew Nikulichev

Dynamics of GDP in 2020 will be negative, said the head of the Central Bank Elvira Nabiullina at the briefing.

“We’ve really refined their assessment compared to the previous due to the fact that the situation is very dynamic and we see that this year will be, unfortunately, negative economic growth”, – quotes its RIA Novosti.

the head of the Bank of Russia also noted that the need for intervention in the foreign exchange market now, no.

Earlier, Russia’s Finance Minister Anton Siluanov said that in 2020, Russia expects oil and gas revenues by 2 trillion rubles. He believes that the spread of the coronavirus will affect the country’s economic growth is much stronger than the dynamics of prices on black gold.

Siluanov added that inflation this year is expected to reach about 4%. If the price of oil will remain within current rates, the budget deficit will amount to 0.9 to 1% of GDP. The Minister stressed that all social obligations of the state to the population will be made in the next three years, and in the long term.

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