Some industries or specific regions will be in a very difficult situation, according to the head of the Accounts Chamber
Russia's GDP will fall by about 5% by the end of 2020 if quarantine measures in connection with the spread of a new coronavirus infection are extended, head of the Accounts Chamber Alexey Kudrin said in an interview with RBC TV channel.
"Today, we see that our country has been affected by quarantine, which has been going on for at least a month already. We don’t know yet, if we may have to extend this quarantine, [which means that] some industries or specific regions will still be in a very difficult situation. I think that the fall (of Russia’s GDP - TASS) will be closer to 5%. It is very difficult to give strict rigorous estimates," he said.
"If we take the average consensus forecast of about a dozen of companies provided by the Higher School of Economics (HSE), the decline in GDP growth will be 2%. This is much more optimistic than it was in 2009. Let me remind you, that the decline was about 7.8-7.9% at that time, "Kudrin added.