The Russians will eat their black bread for a long time, a well-established eating habit, and - figuratively speaking - the consequences of the crisis, which will be painful. Growth slowed slightly in the first quarter, recording a 1.6% year-on-year increase in GDP according to the figure released on Tuesday, before falling more sharply as a result of the coronavirus and the oil crisis. Concretely, the GDP should decrease during four consecutive quarters, according to the data provided by the institute of the growth within the High school of the economy of Moscow (HSE). The Russian economy may not return to its pre-crisis level until mid-2022.
Read also: Coronavirus: the Russian economy will contract by up to 6%
The second quarter of 2020 should mark the bottom of the wave - with a drop in GDP of almost 11% - before a resumption of annual growth from the second quarter of 2021. The Russian central bank forecasts a decline of 4 to 6% over the whole of 2020 after 1.3% on 2019. "In the long term, Russia can hardly expect
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