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Russian Economy’s Contraction Seen Below 4%

M. Ali 8 September, 2020 7:33 pm Market Update

Russia’s Minister of Finance Anton Siluanov said on Tuesday that the Russian economy could contract by less than 4% in 2020, Reuters reported.

This signals an improvement compared with previous forecasts, with signs of recovery from the COVID-19 pandemic and the drop in oil prices.

Meanwhile, the debt-to-GDP ratio is set to reach 20% in 2021.

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