No quick bounce back: Russia’s real GDP to recover in mid-2022 but ruble to remain strong, Economy Ministry says

Russia’s Ministry

Russia’s Ministry of Economic Development has released a fresh forecast for 2019-2022. The ministry said there will be no V-shaped recovery: after a five percent plunge in 2020, real GDP will only recover starting in mid-2022.

The Ministry of Economic Development predicts a GDP growth of 2.8% in 2021 and three percent in 2022.

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