The economist commented on forecast of recession the economy on the background of the coronavirus

Photos: Moscow 24/Nikita Simonov

an Economist, leading expert of Institute of modern development Nikita Maslennikov has assessed the forecasts of recession of the Russian economy on the background of the epidemic of the coronavirus.

According to him, they are vague and ambiguous. The expert recalled the shock of two situations: in addition to pandemic, the decline in oil prices.

First, he explained, leads to the rupture of economic ties and the suspension of production. Its consequences – “as the classic crisis,” said the economist.

“the Outlook is not promising, before the beginning of the summer relief is unlikely to occur. This is a crisis, but it is sharper and harder,” he was quoted RT.

the Expert noted that the official data in the global economy in the first quarter will only appear in mid-April, and to speak about recession, it will be possible by mid-June. He believes that some recovery is possible to wait due to the measures to support global banks.

“If you take the optimistic scenario, the world economy will begin to recover in the second half of the year and oil prices will stabilize, for us it would mean near-zero growth rate. It’s an optimistic variant. Working version of fall from 0.5 to 1%,” – said Maslennikov. At the same time, he added that the situation is changing every day.

Vladimir Putin has described the consequences of the coronavirus pandemic more devastating than the financial crisis of 2008-2009. He believes that trade disputes and sanctions deepen the recession. The President of the Russian Federation stated that the peak of unemployment in the world can exceed indicators of 2009.

the Central Bank adopted additional measures on support of the citizens, the economy and the financial sector in the face of the pandemic. Banks advised to restructure foreign currency loans to borrowers affected by the coronavirus. Credit bureaus are urged not to consider debt restructuring of citizens when calculating their credit rating.

see also

Banks reported closedAI deposits russianamerica or map. How to keep savings in a pandemic Stories:Coronavirus COVID-19, the Fall in oil prices and the ruble exchange rate