It could take three years for Russian economy to recover

In 2020, Russia will lose 10%-11% of its GDP and will be able to recover not earlier than in 2023, McKinsey consulting company says.

According to economists, the global economy will fall by over 5% this year.

At the same time, the Russia economy has a chance to avoid a serious recession: in the best-case scenario, it will lose 3.8% of GDP in 2020. In the worst-case scenario, its GDP will lose 10%-11%, RBC news agency reports.

In the basic scenario, the country’s economy will return to the pre-crisis level in 2021. If the worst-case scenario comes true, it will only happen in 2023.

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