VEB.RF executive puts Russia’s GDP fall at 4% in 2020

MOSCOW, Sep 3 (PRIME) – Russia’s  gross domestic product (GDP) will shrink by 4% this year, Chief Economist of VEB.RF Andrei Klepach said on Thursday.

"Our estimate of the decrease is 4%. Had the government not taken the measures that were taken – it is a matter of discussion whether there could be more or less of them, sooner or later implemented – the decrease would be 5.5–6.0% perhaps," Klepach said.

He added that the decrease was in many respects caused by the oil and gas price fall rather than by the virus.  

Economic Development Minister Maxim Reshetnikov said earlier that the ministry planned to improve the outlook from a 4.8% decline.

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