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Recovery of certain Russian economic sectors to take over one year — expert

  • 29 Apr 10:38

Recovery of certain Russian economic sectors to take over one year — expert Recovery of a number of sectors of the Russian economy after the crisis will take more than a year, Head of the Russian Accounts Alexey Kudrin said in an interview with Rossiya 1. "For some sectors, indeed, it will take a year or more. We need to balance opportunities and think a little bit about the future, but now we have to put a lot of effort into this," he said. "One thing is certain - we will go through it all together, for better or worse. Countries will return to their usual lives," Kudrin added. Unemployment in Russia, according to Kudrin, can grow this year to 7-8%, in the worst case, to 10%, from 6 to 9 mln people. At the same. Read more...

Worst-Hit Economic Sectors to Lose $240bn Due to Pandemic, Experts Predict

  • 22 Apr 12:08

Worst-Hit Economic Sectors to Lose $240bn Due to Pandemic, Experts Predict The losses for Russia’s economic sectors which are worst-hit by the coronavirus pandemic could reach 17.9 trillion rubles ($239 billion), while up to 15.5 million people could lose their jobs, a new macroeconomic study by theNational Rating Agency(NRA) says, according toIzvestia. The crisis will deal a heavy blow to the service sector, while the food industry, agriculture, fishery, and forestry sectors will be the least affected, the study says. According to the experts, the government will try to prevent some of the damage by taking additional measures for helping the worst-hit parts of the economy. In its new forecast, the NRA relies on a basic scenario, where the. Read more...