ALEXEY VEDEV: RECOVERY OF RUSSIAN ECONOMY REQUIRES EXTENSIVE RESOURCES

The Head of state appealed to citizens asking them to observe the self-isolation mode of behavior and extended the non-working period until April 30. Alexey Vedev, Head of Financial Studies Department of the Gaidar Institute, ex-Deputy Minister of Economic Development, expressed his opinion to TASS on the amount of time and resources it will take for the economy to recover after a forced holiday.
“Recovery of Russian economy requires about RUB 5-7 trillion after production has been suspended. It is very difficult to make calculations for one month, but I think that in April it will amount to RUB 1-2 trillion. The period of economic recovery will also depend on the duration of the downtime. Probably, it will need a few months. Although, it is important to take into account demand constraints by the population,” said Alexey Vedev.