The Minister of economic development of the Russian Federation has called the possible release dates of the GDP to pre-crisis levels

Russia’s GDP will return to pre-crisis level no earlier than the first half of 2022. This forecast was voiced by the head of the RF Ministry of economic development Maxim Reshetnikov, reports “Interfax”.

the Agency predicts that in 2020, the economic downturn will be 5% in 2021 expect recovery growth of 2.8% in 2022 — a growth of 3%, and in 2023 — an increase of 3.1%. According to the macroeconomic forecast for 2020-2023 years, a major decline in GDP will occur in the second quarter — the index to fall by 9.5% in annual terms. In the third quarter decline of 6.3% in the fourth quarter to 5.2%.

the Decline in industrial production in 2020 could reach 5.4 percent in 2021 and will continue to be an increase of about 3.3 percent.

At the same time Reshetnikov noted that the forecast may be inaccurate because it is affected by the situation with the spread of the coronavirus. It is expected to be finalized in August and September. He also added that “the world does not understand, which will move the economy,” and stressed that the dispersion of expert assessments “has never been so wide.”

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