Russian economy to contract under 5% this year before returning to growth

Russia’s response

Russia’s response to the coronavirus outbreak and government stimulus measures will prevent the national economy from falling more than five percent, according to the country’s Industry and Trade Minister Denis Manturov.

“Through the ongoing efforts, we expect to contain the contraction of the economy within five percent by the end of 2020, and return to growth already next year,” he said during an online meeting of BRICS Ministers of Industry on Monday.

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