Tough Times For The Russian Economy

Financial district of western Moscow. Kirill Zykov / Moskva News Agency

RT: Covid-19-driven recession may see Russian economy contract by 4.5% & a million plunged into poverty, says finance guru Kudrin

The economic consequences of Covid-19 are becoming clearer, and they aren't good.

The number of Russians in poverty is projected to grow by about a million by the end of 2020, with the overall economy due to fall as much as 4.5%.

That's according to the Chairman of the Accounts Chamber and former Finance Minister Alexey Kudrin, who revealed on Saturday the current projections for the state of the country's finances.

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Update: Russian economy may shrink by 4.5% this year, Accounts Chamber chief says (TASS)

WNU Editor: I have seen and experienced worse. At least Russia is doing significantly better than the European average (8-9%)