In the second quarter of 2020, Russian GDP fell by 7.5% compared to the same period last year. At the same time, in the first quarter, the decline was only 0.5%. Such estimates were given by economists from the Center for Industrial Markets Research, RANEPA, Kommersant reports. According to experts, the greatest negative impact on GDP was made by the loss of value-added production in a number of sectors of the economy. We are talking about the service sector, wholesale and retail trade, transport, agriculture, construction and processing. More than half of all losses. Read more...
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. Read more...
By the end of 2018, inflation in Russia may exceed the forecast value and come close to 4%, according to the report of the Russian Accounts Chamber. "The forecast includes 3.4% consumer price growth in the current year against December 2017, which is 0.9 percentage points higher than last year’s level (2.5%). According to the Accounts Chamber, by the end of the year inflation may exceed the forecast value and come close to 4%," the report said. At the same time, according to the Accounts Chamber, under the influence of growth of the VAT rate from January 1, 2019, inflation in Russia by the end of 2019 will accelerate to 4.3%. In 2020, inflation will be. Read more...
As Moscow responds to the incident with the downed Russian Su-24 bomber by imposing economic restrictions on Turkey in various sectors, the Turkish economy faces potential losses of at least $20 billion, predict Russian analysts. Turkish security officers stand behind barriers at a beach as they secure the summit zone ahead of the G20 summit in Belek in the Mediterranean resort city of Antalya, Turkey, Nov. 14, 2015. Source: Reuters Turkish Vice Premier Mehmet Simsek has estimated Ankara’s losses from its current tensions with Russia at $9 billion a year. He predicts that in the worst-case scenario,Russian sanctionswill cost Turkey 0.4 percent of its GDP,. Read more...
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