Economists predicted a decline in Russia’s GDP by 4-18%, depending on the scenario
Anti-Russian sanctions imposed by European countries and the United States could reduce the country’s GDP by 4-18 percent, depending on the scenario. Three options for the development of the economic situation in Russia were named by Heli Simola, Senior Economist at the Institute for Economies in Transition of the Bank of Finland (BOFIT, an institute specializing in the analysis of the Russian economy), informs RBC.
An analysis of the situation showed that under the current sanctions regime, which includes a ban on the supply of dual-use goods, various technologies and luxury goods to Russia, GDP could decline by almost four percent.
The second scenario for economists is an expansion of the embargo on all goods and services from developed countries. In this case, analysts expect a drop in total value added by 10 percent. It is noted that in the textile industry, the fall could be more than 20 percent, in the production of rubber, plastics and in the chemical industry – from 20 to 30 percent.