HSE: Russia’s economy may slump by 5.2% in 2020

MOSCOW, Jun 5 (PRIME) -- Russia’s gross domestic product (GDP) may fall by 5.2% in 2020, and rise around 3% in 2021, Moscow’s Higher School of Economics (HSE) said in a research note on Friday.

“According to our assessment, GDP may decline by 9.5% on the year in April–June, then by 6.9% and by 5.4% in July–September and October–December, respectively. A bounce-back will follow after the second quarter’s slump, and then the recovery will slow down,” the document read.

“In the entire 2020, Russia’s economy may decrease 5.2% with a growth outlook of 3% in 2021,” it also read.

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