ALEXEY VEDEV: “RECOVERY OF THE ECONOMY WILL BE SLOW ESPECIALLY IN THE SERVICE INDUSTRY”

“TASS” cites a consensus forecast compiled by a survey of investment bank analysts and rating agencies, which indicates that the decline in Russia's GDP will slow down by the end of Q3 2020 due to lifting of restrictions resulted from coronavirus and will amount to 5.9%.

Alexey Vedev, Head of Financial Studies Department of the Gaidar Institute, believes that recovery will be slow especially in the service industry. According to the expert’s forecast, the GDP will decline in Q3 by 4% in per year terms.