Deutsche Bank says Russian GDP can lose 3% 2020 due to COVID-19

MOSCOW, Apr 3 (PRIME) -- The Russian economy can lose 3% of the gross domestic product (GDP) in 2020 due to the coronavirus pandemic, Deutsche Bank said in a report seen by PRIME on Friday.

"The purchasing managers index (PMI) released this week indicate a significant slowdown in March, which happened even before the self-isolation regime introduction, and since its length will vary depending on the region, a further slowdown is seen inevitable," the bank said.

The forecast assumes normalization of the situation in May.

An official of the bank told PRIME that the last Deutsche Bank’s forecast envisages a decline of Russian GDP in 2020 by 0.3% but it will be revised soon, taking into account a 4% average decline in the region.

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