the Russian economy will suffer from the pandemic of coronavirus, but the loss will be less than in other countries. This was stated by the head of the Central Bank Elvira Nabiullina during a speech in the state Duma.
the Head of the Central Bank noted that the fall in GDP this year can not be avoided, but the last global crisis of 2007-2009, the situation was worse.
the Forecast decline in GDP of 4-6%, which is a deep economic downturn. However, under the current circumstances, it is still markedly less sensitivity to the global economic crisis, said the head of the Central Bank.
According to Nabiullina, Russia will face a difficult road to recovery after the pandemic, but the economy will return to sustainable growth. The full return of the Russian economy to pre-crisis levels in 2019 will only happen in the first half of 2022, said earlier Elvira Nabiullina during an online press conference, which was broadcast channel “Russia 24”.
the Second, third and fourth quarter will be the most difficult, and then “followed by a restore”. In the second quarter may reduce GDP by 8-10%.
Rapid return the Russian economy to pre-crisis levels hamper the feeble recovery of the world economy, global trade, the gap of logistics and production chains.
the Central Bank fixes the “signs of partial recovery in economic activity” with the gradual easing of restrictive measures in most regions, “but it will take time to restore production and supply chain,” explained Elvira.
Much remains uncertain: the business may change investment and production plans, and the public — the “consumer preferences”. The population may “be wary of the costs, would prefer to save, to defer a major or optional purchases”, — said the head of the Central Bank.
