EBRD sees Russia’s GDP falling 4.5% in 2020, rising 3% in 2021

LONDON, Oct 1 (PRIME) -- The European Bank for Reconstruction and Development (EBRD) has retained its forecast for Russia’s gross domestic product (GDP) decline of 4.5% in 2020, the bank said in a report on Thursday.

The Russian economy in 2020 will be affected not only by the negative consequences of the coronavirus pandemic, but a decline of oil prices as well, the bank said.

In 2021, Russia may return to economic growth of 3% in case of positive dynamics of oil prices, the EBRD said.

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