Minister: Russia’s GDP to fall less than 4% in 2020

MOSCOW, Sep 8 (PRIME) -- Russia’s gross domestic product (GDP) will fall less than 4% in 2020, Finance Minister Anton Siluanov said at the Moscow Financial Forum on Tuesday.

“Our situation with growth rates is one of the best, not bad. Because if in some countries the economy declines by 5% or more compared to last year, this year we see that the economy will decrease by less than 4%, maybe even it will be more positive actual data on the economy,” he said.

The budget deficit will be around 4% of GDP, he added.

Unemployment in Russia is reaching the pre-crisis trends, and consumer demand is restoring, Siluanov also said.

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