15 Oct 2020 13:46

Russia's Accounts Chamber expecting decline of 4.2%-4.8% in country's GDP in 2020 amid official outlook of 3.9%

MOSCOW. Oct 15 (Interfax) - The Russian government's official macroeconomic outlook is overly optimistic regarding the dynamics the country's GDP for this disastrous year of 2020 because of the pandemic, as well as for the year of recovery in 2021, the head of the Russian Accounts Chamber, Alexei Kudrin, said on Thursday during a meeting of the State Duma Committee on Budget and Taxes.

The Accounts Chamber expects Russia's GDP to fall within 4.2%-4.8% in 2020, Kudrin said during the meeting. However, the country's Economic Development Ministry forecasts a decline of 3.9% in GDP for this year.

The Accounts Chamber also expects growth of about 2.2% in GDP in 2021 against the government's official macroeconomic outlook of growth of 3.3% in GDP for the year.