The high cost of the Russian economy recovery plan

“Kommersant”, citing a government document, said that the value of the Russian economic recovery plan, which was approved by the Russian government, exceeded the initial estimates. The value of the plan reached 6.4 trillion rubles (81 billion dollars).

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The Russian Ministry of Economic Development improves its forecast for the economy's performance in 2020

The Russian Ministry of Economic Development improves its forecast for the economy's performance in 2020

This amount reflects a set of measures that the Russian government will take until the end of next year, to ensure that the Russian economy recovers from the Corona crisis and the decline in oil prices.

Thanks to the plan, the Russian economy is expected to grow by 3% next year, and the plan includes a set of measures to revive the economy, including: digitizing public administration, providing support to the affected companies, and investing in road projects.

According to the expectations of the Russian Ministry of Economic Development, the Russian economy is expected to decline this year by 3.9%, and to grow by 3.3% in 2021.

The Corona pandemic affected the Russian economy like other economies of the world, and the Russian government expects the Russian economy to return in 2021, to its pre-crisis level.

Source: Agencies

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