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World crisis, provoked by, among other things, the outbreak of coronavirus, “still declare itself” and need to prepare for it
Moscow-Live.ru / Akishin Vyacheslav Extending outside of the regime in Russia, which is valid until the end of April, “is extraordinary and a huge burden on the country’s economy, the load with a minus sign”. This decision caused a lot of controversy, but, as stated by the press Secretary of the President Dmitry Peskov, people’s health is more important
the Press service of the President of Russia the Kremlin is considering various scenarios in the economic situation of the country, including the nesemanticheskie, as what is happening now in the Russian economy, falls under the concept of the “perfect storm”
Moscow-Live.ru / Akishin Vyacheslav About the “perfect storm” Peskov said more in the previous program “Moscow. The Kremlin. Putin”, commenting on the preparation of the second address to the nation Russian President Vladimir Putin in connection with the situation with coronavirus
the Press service of the Russian Government
the World crisis, provoked by, among other things, the outbreak of coronavirus, “still declare itself” and need to prepare for it.
Extending outside of the regime in Russia, which is valid until the end of April, “is extraordinary and a huge burden on the economy, and load with a minus sign”. This decision caused a lot of controversy, but, as stated by the press Secretary of the President Dmitry Peskov, the health of people is more important.
In interview to the program “Moscow. The Kremlin. Putin” TV channel “Russia 1” (RTR) a representative of the Kremlin noted that it is necessary to prepare for this crisis: “of Course, will require coordination of anti-crisis measures on the part of many States”.
“of Course, the government monitors the situation – not that daily and hourly. And depending on how it will develop, will continue to build scripts support measures”, – said Peskov.
the Kremlin is considering various scenarios of the situation in the economy, including the most pessimistic, as what is happening now in the Russian economy, falls under the concept of the “perfect storm”. At the same time agreed by several factors, each of which threatens to become critical for Russia: it is a pandemic and coronavirus, and lower oil prices, and the devaluation of the ruble, and a decline in consumer demand, etc. the Situation risks to get worse like a snowball.
About the “perfect storm” Peskov said more in the previous program “Moscow. The Kremlin. Putin”, commenting on the preparation of the second address to the nation Russian President Vladimir PUTina in connection with the situation with coronavirus. “So an unprecedented situation, so the perfect storm” – Peskov said, stressing that what is happening it was impossible to prepare in advance.
Press Secretary of the Russian President touched upon the topic of the crisis of oil prices, noting that Russia is ready for constructive talks on oil, which is scheduled for April 9 at the meeting of Ministers of OPEC countries+.
Sands stated that the actions of Saudi Arabia, which took the unprecedented increase in production, threatening to overflow the oil storage and the fall in oil prices to a minimum. He noted that “tankers already are not used for the transportation of oil, and actually like the floating cans”. “In the end we will have a minimum price of oil that is not beneficial to any country,” – said Peskov.
Economists predict at least a two-year recession in Russia
the Center for macroeconomic analysis and short-term forecasting (CMASF) published “constructive” and “hard” versions of the forecast for the economy of Russia.
In a research note noted that the development of the situation with the epidemic of the coronavirus and oil prices occurs in “crisis”, if not “shock scenario option”, RIA “Novosti”. Obviously, hard recession with consequences in the form of growing poverty and unemployment is already inevitable, experts say.
“For our country, because of the “perfect” economic storm – a combination of “quarantine of shock” with a stop in the big cities of entire business sectors and a sharp drop in oil revenues – the crisis may be much more serious than for the world as a whole,” the authors of the document.
a”Constructive option” suggests that the priorities in the economy will be the prevention of unemployment, support for incomes, investment activity, and the ruble and curb inflation. In this case, the fall in GDP will be able steriabe 2.3 to 2.5 percent in 2020 and 0.5-0.8% in 2021. By 2022, the increase should be between 0.6-1%.
Without active government support, the recession may be even more serious. “Hard scenario” implies that GDP in 2020 could fall to 3-3. 3%, and in 2021 – 0.8-1%, the authors of the document.
in Russia In the midst of a “perfect storm” was a whole industry. It threatens billions of dollars in losses daily. In the near future can stop the activities of some 3 million entrepreneurs, and about 9 million Russians may lose their jobs. In Moscow alone, the work can lose 1 million people.