Forecast of the savings Bank to reduce Russia’s GDP in 2020 is more optimistic than the expectations of the government and the Bank of Russia, said the head of Sberbank German Gref. According to him, the decline will be 4.2–4.5% of GDP in the case, if there is no second wave of the epidemic coronavirus COVID-19. In the April forecast, the Central Bank said that the decline in GDP could reach 4-6%, the economy Ministry expects a decline of 5%.”Now the situation looks somewhat better than we expected. If we had predicted this year, in advance, the fall in GDP at the level of 6-7%, today we expect a slightly better than forecasts of the Central Bank and the government. Our rating is about minus of 4.2–4.5%”,— said Mr. Gref at a meeting with President Vladimir Putin in a videoconference format. We will remind, at the end of April the savings Bank has sounded the forecast decline of Russia’s GDP by 4.2% for the year.The head of state asked German Gref, what is the Outlook for the economies of the West. “They (in the European Union.— “B”) expect a negative 7.5% for the year. We expect the Russian economy to cope generally better than European than American — Americans also expect 6 to 7% drop for the year,”— said the head of Sberbank.On the eve of the world Bank issued a forecast that the decline in the global GDP by the end of 2020 will amount to 5.2%, in Russia — at the level of 6% in the US and 6.1% in the Euro area and 9.1%. International rating Agency Fitch expects a decline of Russia’s GDP by 5%. In the second quarter GDP may decline by 16%, calculated by Bloomberg based on data from the Ministry of Finance. The government of Russia has prepared and submitted to the President’s economic recovery plan from the effects of a pandemic coronavirus. To begin implementation of this plan, once finalized, authorities hope from 1 July.Read more about the government’s plan — in the material “Kommersant” “the Economy for nothing”.
