Russian`s 2020 GDP contraction outlook upgraded to 3.8%
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25.12.2020 в 11:27
Russia’s Economic Development Ministry has upgraded its 2020 GDP contraction outlook to 3.8% from 3.9% projected earlier, Minister Maksim Reshetnikov said addressing members of the Federation Council.

Earlier the ministry said that Russia’s GDP contraction slowed down to 3.7% in annual terms in November after the revised 4.5% in October, whereas in 11 months the contraction amounted to 3.5%.

According to the ministry’s projections provided in September, Russia’s GDP contraction was expected at 3.9% in 2020. In 2021, GDP is expected to grow by 3.3%.