Losses of the Russian economy from coronavirus estimated at 5% of GDP

During the 2009 crisis, authorities spent about 10% of GDP

In 2020, the Russian economy may require state support in the amount of more than 5% of the country’s gross domestic product. This was stated by the head of the Accounts Chamber Alexei Kudrin, writes Kommersant. In his opinion, the fall in Russia’s GDP due to the pandemic of the coronavirus COVID-19 can be from 3% to 5%.

“It can be expected that in a moderately even variant, the fall in GDP may reach a significant value this year – from 3% to 5%. Or it may be a similar situation, as it was in 2009, when GDP fell by almost 8%, ”Mr. Kudrin said at a meeting with the president and members of the government on April 1.

He also said that during the 2009 global financial crisis, the Russian authorities spent about 10% of GDP on supporting the economy, while the average oil price was then approximately $ 60 per barrel.

Kudrin did not rule out that in this regard, the government will have to spend more from the reserve fund this year.

Earlier it was reported that Russian Prime Minister Mikhail Mishustin dismissed the State Secretary – Deputy Minister of Health Dmitry Kostennikov.

In Ukraine, prices for basic products increased several times

Coronavirus pandemic could lead to default in Ukrainian economy

In Ukraine, the main products sharply went up in price. About this writes the publication  Strana.ua.  Many supermarkets do not have time to rewrite price tags due to suppliers.

According to the source, supermarkets gave information about the approximate “new” prices for products and the price level. So, the price of bread can rise to 17% – 12%. For beets, prices rose by 67-127%, to 2.3-3.8 hryvnia per kg. Cabbage soared in price by 86-136%, up to 6.1-7 UAH. Potatoes went up by 40-58%. Carrots went up by 50-115%. Onions, the price tag soared by 45-120%, up to 7.2-9 UAH per kg.

A sharp rise in the price of eggs is also expected – by 47%. Buckwheat will rise in price by almost 50%. According to networkers, not only local vegetables, but also imported products have risen in price. The cost of lemons increased by 29-36.6%.

Earlier it was reported that Moscow families received the first grocery sets for schoolchildren.

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