Report: VTB CEO sees Russia's GDP fall not exceeding 4.5%

MOSCOW, Jun 17 (PRIME) – Russia’s economy will decline by no more than 4.5% in 2020, Russia's second biggest lender VTB CEO Andrei Kostin told Sky News on Wednesday.

"We indeed expect a certain recession but reality is much better than many expected… The GDP fell by 12% on the year in April but the situation started to improve after that: there was only a 10% decline in May. We expect a GDP decrease of no more than 4.5% for the year," Kostin said.

The Economic Development Ministry forecasts contraction of 5% in 2020 and a rise of 2.8% in 2021.

End %%mk/jst%%