According to RIA Novosti, according to the agency, Russia now expects a 4.8% drop in GDP this year instead of the previously expected 0.8% decline.
“At present, we expect a 4.8% reduction in the economy (compared to the assumption of the previous base scenario, a 0.8% reduction),” the agency said.
In its forecast for Russia's GDP, S&P points to a fall in external demand and the negative dynamics of domestic demand, due to measures to curb the spread of the coronavirus pandemic.
Along with this, the agency believes that in 2021 the Russian economy will begin to recover, and its growth rate will reach 4.5%.
Earlier, the head of the Ministry of Economic Development of Russia Maxim Reshetnikov called the daily losses of the country's economy due to restrictions imposed in connection with the coronavirus infection COVID-19.
On April 16, as reported by Nation News, Chairman of the Russian State Duma Committee on the Financial Market Anatoly Aksakov assessed measures to support the business.