In the report titled “Outlook of Business Activities” published by the Russian Ministry of Economic Development, it was stated that the Russian economy, which grew by 0.8 percent in March, shrank by 12 percent last month.
The report noted that the Russian economy shrank by 1.9 percent in the first four months of the year, and stated that the situation in the Russian industry and service sectors worsened due to the measures taken in the country due to the new type of coronavirus (Covid-19) epidemic and the decline in the economic situation of foreign countries.
The report stated that the biggest decrease in April was observed in the sectors of the economy focusing on consumer demand, and pointed out that the volume of paid services provided to the population decreased by 37.9 percent on an annual basis in April.
Estimating that the country’s economy will shrink by 5 percent this year, the Russian Ministry of Economic Development expects a growth of 2.8 percent in 2021.
Source: https://www.aa.com.tr/tr/ekonomi/rus-ekonomisi-nisanda-yuzde-12-kuculdu/1857240
