This is stated in the materials of the regulator.
“The relaxation of restrictions, the ongoing soft monetary policy and the measures taken by the government of the Russian Federation to support the population and business have created conditions for the expansion of economic activity in the third quarter of 2020.
However, the observed recovery is most likely of a short-term nature, which is associated with the implementation of deferred demand and the action of social support measures, ”the Central Bank said.
According to the Central Bank, due to the worsening epidemiological situation, the recovery of consumer activity in Russia by the end of the year may significantly slow down.
"According to the Bank of Russia estimates, in 2020 GDP will decrease by 4-5%," the document says.
Earlier, the Accounts Chamber of Russia together with the E.T.
Gaidara assessed the prospects for the country's economic development and prepared a macroeconomic forecast for 2021-2023.
On October 26, Russian Finance Minister Anton Siluanov told how much the authorities will spend on supporting the Russian economy in 2020-2021.
He noted that Russia has moved from a budget surplus to a deficit one.
Now the authorities have to “find additional financial opportunities”.