ALEXEI VEDEV: GDP GROWTH WILL BE AT THE LEVEL OF 1% AT THE YEAR-END of 2020

Alexei Vedev, Head of the Financial Studies Lab, the Gaidar Institute for Economic Policy and Former Deputy Minister of Economic Development (2014-2017) presented the GDP growth forecast for the next year to the Invest Foresight business magazine.
“I would like to remind that the Department of Economic Development itself has called the year 2019 the year of adaptation”, Alexei Vedev said. “In my view, the economic results could be better because the external environment was quite favorable. Of course, GDP growth of 1% is quite modest. The investment activity is rather low”.

According to the economist, in terms of the economy and investments the year 2020 will be almost the same as 2019, but there is a hope that national projects will be financed much better. At the same time, the Central Bank of Russia will be taking further measures to limit consumer lending.

“As a result, GDP growth will be at the level of 1% again at the year-end of 2020”, Alexei Vedev believes.