According to the analysts, the decline of the Russian economy could reach 6% in 2020. The main causes a jump in the incidence of COVID-19 and falling oil prices. In 2021, it is projected that the recovery of the Russian economy will be 2.7 percent.
In the advanced economies, the contraction of activity can reach 7%, the emerging market is projected to decline by 2.5%. Income per capita can be reduced in 2020 by 3.6%.
“it is Very likely that the current crisis will leave deep scars and cause major global problems, – declared Vice-the President of the world Bank Group Ceyla Pazarbasioglu. – Our priority task is to overcome this global emergency in health care and the economy. After that the world community should join efforts to find ways of more rapid and sustainable recovery and to prevent further increases in poverty and unemployment.”
In 2021, global economic growth will quicken and will reach 4.2%. While in developed economies it will be 3.9%, and in the EMDES will accelerate to 4.6%. However, the Bank noted that this forecast is very uncertain and the risk remains unfavorable scenario.
