The Russian economy is struggling hard, and it is hardly even possible to make any guesses or consider scenarios for its further development, said Alexei Krichevsky, an expert at the Academy of Finance and Investment Management.
However, we have not even reached the bottom yet, and the economy is not showing the worst performance indicators, the expert said. We must focus on what happens next. We will not be able to assess the consequences of the pandemic until after the Russian economy begins to recover.
As many as 80% of restaurants may close down, the expert continued; the same will likely happen with the light industry because many sales outlets will close, the Svobodnaya Pressa website points out.
Social security funds will also lose a lot of money, something the government will have to compensate, and that might also be a problem.