The European Commission has improved its forecast for the Russian economy, while downgrading its global outlook, as the coronavirus crisis continues to batter the world economy.
Russia’s gross domestic product (GDP) is set to shrink by 4.2 percent, according to the EU’s latest economic forecast, released earlier this week. This is 0.8 percent less that the body predicted in the Summer 2020 Economic Forecast. Next year, the Russian economy is expected to expand more than previously thought – by two percent instead of 1.6 percent. As for 2022, the commission expects Russia’s GDP to rise by 1.9 percent.
Continue reading https://on.rt.com/au7m