the Russian economy will face several quarters of recovery after the pandemic, said in the state Duma the head of Bank of Russia Elvira Nabiullina.
“Coronavirus not just freeze a normal life. We all understand that the impact of the epidemic will not disappear immediately after the lifting of restrictions and, in fact, the coronavirus pushed all the trajectories which would develop the economy and the financial system”.
Now the situation has improved: the regions increase, increasing the production and turnover, revives the service sector. “Now we are slightly more optimistic look to the future, — said the head of the Central Bank. — In our assessment, there are still a few areas of restoration” (quoted by TASS).
At the end of this year is expected to reduce GDP by 5%, and next year is already projected to increase by 2.8%. The pre-crisis level the Russian economy needs to go in the first half of 2022.
the Russian economy will cope with the recovery of coronavirus better than European or American, said a day earlier, the head of Sberbank German Gref during a videoconference with Russian President Vladimir Putin.
Russia’s GDP in April decreased by 12% compared to April of last year after rising 0.8% in March, according to the Ministry of economic development. Overall, in January-April the Russian economy decreased by 1.9%. The largest decline in April occurred in the sectors dependent on consumer demand, which collapsed because of the quarantine. The volume of paid services fell in April by 37.9% (-5,4% a month earlier). Retail trade turnover in April fell by 23.4% due to the reduction in sales of non-food goods by 36.7%, after rising 6.4% in March. Sales of new passenger cars fell by 72.4%, and decreased demand in other sectors. The retail turnover of food products decreased by 9.3% after increasing 4.7 percent a month earlier.
