OREANDA-NEWS. The Bank of Russia expects a decrease in Russia's GDP in 2020 by 4-6%, with subsequent recovery growth in 2021-2022. This was reported in the press release of the regulator. "GDP will decline by 4-6% in 2020. In the future, the recovery growth of the Russian economy is forecasted to be 2.8-4.8% in 2021 and 1.5-3.5% in 2022", the report said.

According to the regulator, the spread of the coronavirus pandemic in Russia, together with lower oil prices, have a significant negative impact on economic activity. Under these conditions, GDP will decline in the second quarter of this year. Moreover, the dynamics of economic recovery will largely depend on the scale and effectiveness of measures taken by the government and the Bank of Russia to mitigate the consequences of the coronavirus pandemic.

According to the results of 2020, inflation in Russia will be 3.8-4.8% and will stabilize near 4% in the future, the Bank of Russia said.