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The central bank does not expect a quick economic recovery
The Bank of Russia does not expect a quick economic recovery after the crisis caused by the coronavirus epidemic. This was stated by its leader Elvira Nabiullina.
As they say RIA News, the reason lies in the specialization of the Russian economy. If an enterprise cannot restore its activity in the production chain, the whole chain and output of these products may suffer. It will take time for new suppliers to appear, and these chains will be restored, said Nabiullina.
Earlier, the Ministry of Economy of the Russian Federation said that the economic recovery after the crisis it will take two years. Entering the pre-crisis level will occur no earlier than 2022. Economists at the center for macroeconomic analysis and short-term forecasting predicted that by the end of 2020, Russia's GDP will fall by 8% due to the second wave of coronavirus.