Minister admits dramatic economic drop

The pandemic caused lockdown has entailed the greatest global decline in economic activity since WW2, Russia’s Finance Minister Anton Siluanov said.

Dmitriy Astakhov / RIAN
Dmitriy Astakhov / RIAN

As he noted, that triggered drops on financial and commodities markets, declines in personal and national revenues. According to Anton Siluanov, government support measures in Russia reached 4.5% of the national GDP, while regional assistance and extrabudgetary injections brought the figure up to 9% of the GDP. The Minister also noted, the national budget deficit reached 5.4% of the GDP.

As Invest Foresight reported earlier, Russian economy may face an investment crisis stirred by the reemerging pandemic and persistently low oil prices.

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