the International rating Agency Fitch has revised the Outlook on the fall of the Russian economy and now expects the country’s GDP will shrink by 5% by the end of this year.

last month, experts Fitch assumed that the economy of Russia will lose this year only 3.3%, reports TASS.

the Agency has adjusted expectations for the growth of Russian GDP in 2021 to 3% from 2.5%, said PRIME.

Thus, the Fitch rating regarding the fall of the Russian economy this year coincides with the forecasts of the RF Ministry of economic development.

Meanwhile, your grades today announced Bank of America (BofA): the Bank’s experts lowered expectations for growth in GDP in 2021, from 6.3% to 4.8%, but has maintained the forecast of falling of economy in the current year and 5.6%, indicated by “Finmarket”.

we will Remind, on the eve of the analysts of the energy centre “SKOLKOVO” did not rule out that the pandemic coronavirus infection COVID-19 and the fall in world demand for hydrocarbons, Russia may face severe economic crisis in more than a decade.

As reported in this regard by Bloomberg, almost half of Russia’s budget accounts for revenues from energy trade. However, due to pandemics and global warming, demand for fossil energy sources fell sharply, which even led to short-term establishment of adverse commodity prices.

Experts have warned that budget revenues will “fall dramatically”, while GDP growth in the next 20 years will be limited to 0.8%, if the Russian economy does not adapt to the new reality.

last week, the Chairman of the Central Bank Elvira Nabiullina did not rule out that the economic downturn in Russia in April—June will be stronger than previously projected 8%.

Until then, the Agency Bloomberg referring to data of the Ministry of Finance of the Russian Federation, predicted the fall of Russia’s economy in April—June by 16%, that would be the worst quarterly figure since the early 1990s years.

may 21 glava the Ministry of economic development (MED) of the Russian Federation Maxim Reshetnikov presented a briefing on the updated macroeconomic forecast of the Ministry. In particular, at the end of this year Russia’s economy against the background of restrictive measures in connection with the spread of coronavirus infection COVID-19 will lose 5%, but in 2021 the expected recovery growth at 2.8%.

the Minister predicted the fall in GDP in the second quarter by 9.5% in the third — 6.3%, in the fourth quarter by 5.2%.

According to preliminary estimates from Rosstat, the Russian economy in the first quarter of 2020 grew 1.6% yoy.

Earlier, the Ministry of economic development (MAYOR) of the Russian Federation estimated the GDP growth in the first 3 months of the year at 1.8%, and the Bank of Russia is 1.5-2%.

the Bank of Russia admits that in 2020, GDP will be reduced by 4-6% (after increasing 1.3% in 2019), but in the future, the projected growth during the recovery. In early may the Minister of Finance of the Russian Federation Anton Siluanov in interview to the newspaper “Vedomosti” said that in the base scenario is taken by the Ministry of economic contraction by the end of this year by 5%.

let’s Add that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.

may 11, Russian President Vladimir Putin announced the end of may 12, a single period of days off, entered March 30, in the fight against COVID-19. He also announced the beginning of implementation of the third package of anti-crisis measures, under which the state, in particular, will increase targeted support for families with children, small businesses, individual entrepreneurs and self-employed. In addition, Putin instructed the rightsthe construction of drafting a national plan for long-term development of the economy, the recovery in employment and incomes.

Today the head of Ministry of economic development (MED) of the Russian Federation Maxim Reshetnikov said that the volume of anti-crisis program to support the Russian economy in connection with the pandemic coronavirus infection COVID-19 exceeded 3 trillion rubles.

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