The rate of decline of the Russian economy this year will amount to about 4.2-4.5%, barring the second wave of the epidemic of the coronavirus. Such figures in an interview with TASS called the head of Sberbank German Gref.
According to him, the previous forecast assumed that Russia’s GDP will shrink by 6 or even 9 percent, depending on how long days off. The head of Sberbank said that the Russian economy is much better going through this unprecedented situation than could be expected in the beginning.
According to the degree of difficulty he compared it to the default of 1998, which happened soon after arrival on a post of the head of government, Sergei Kiriyenko, the current Deputy head of the presidential administration.
Gref also pointed out that if the number of cases will grow, it will be difficult to predict the exchange rate. However, if this does not happen, then, as noted by the head of Sberbank, he trusts estimates, which at the end of the year the price of oil will reach 60-62 dollars per barrel, and the dollar will fall to 60 RUB.
Last week the international monetary Fund (IMF) released World Economic Outlook report, in which the fall of Russia’s GDP in 2020 was estimated at 6.6 percent.
See the full interview at Okko.
Video, photo All from Russia.